A Collection of an Account Receivable Was Erroneously Recorded and Posted

question 72

Multiple Choice

A collection of an account receivable was erroneously recorded and posted as a debit to Cash and a credit to Consulting Fees Revenue. The journal entry to correct this error would be

• A) A debit to Cash and a credit to Accounts Receivable
• B) A debit to Accounts Receivable and a credit to Consulting Fees Revenue
• C) A debit to Consulting Fees Revenue and a credit to Unearned Consulting Fees
• D) A debit to Consulting Fees Revenue and a credit to Accounts Receivable

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Definitions:

Mediation

The process or practice of resolving disputes through the intervention of a neutral third party, aiming to reach an agreement or understanding between conflicted parties.

Arguments

Logical sequences of statements aimed at demonstrating a proposition's truth or falsehood, used in discussions and debates.

Ethnomethodological Analysis

A method of sociological analysis that examines how people use social norms and knowledge to understand and produce the social order in daily life.

Applause

The act of clapping hands together as a way to show approval, appreciation, or enjoyment, typically for a performance or speech.