In January,the Caribbean Dream Resort Books and Accepts a Cash

question 101

Multiple Choice

In January,the Caribbean Dream Resort books and accepts a cash payment for $32,000 for vacation services to be provided during spring break in March.The journal entry recorded in January will include a debit to:

• A) Cash and a credit to Unearned Revenue.
• B) Accounts Payable and a credit to Service Revenue.
• C) Accounts Receivable and a credit to Service Revenue.
• D) Prepaid Expenses and a credit to Service Revenue.

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