Sugar,IncMade an Adjusting Entry on December 31 to Record $580

question 24

Multiple Choice

Sugar,Inc.made an adjusting entry on December 31 to record $580 of revenues earned but not yet collected.Which of the following describes the adjusting entry?

• A)Cash should be decreased by $580 and Sales Revenue should be increased by $580.
• B)Deferred Revenue should be increased by $580 and Sales Revenue should be decreased by $580.
• C)Accounts Receivable should be increased by $580 and Sales Revenue should be increased by $580.
• D)Accounts Receivable should be increased by $580 and Deferred Revenue should be increased by $580.

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Definitions:

B2B Margins

The profit margin achieved in transactions occurring between businesses, such as wholesaler to retailer, unlike transactions with the end consumer.

Amazon

Amazon is a multinational technology company focusing on e-commerce, cloud computing, digital streaming, and artificial intelligence.

Horizontal Exchanges

refer to marketplaces or platforms that facilitate the trading, sharing, or selling of goods, services, or information between entities within the same industry or sector.

Many Industries

This refers to the broad range of sectors and fields within the economy, encompassing various types of businesses and production methods.