On August 1,Year 1,Benjamin and Associates Collected $18,000 in Advance $\begin{array}{|l|r|r|}\hline \text { Cash } & 7,500 & \\\hline \text { Revenue } & & 7,500 \\\hline\end{array}$

question 99

Multiple Choice

On August 1,Year 1,Benjamin and Associates collected $18,000 in advance for legal services to be rendered for one year.Which of the following entries reflect the end-of-the-year adjustment to reflect revenue earned?

• A) \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 7,500 & \\
• \hline \text { Revenue } & & 7,500 \\
• \hline
• \end{array}\)
• B) \(\begin{array}{|l|r|r|}
• \hline \text { Accounts Receivable } & 6,000 & \\
• \hline \text { Revenue } & & 6,000 \\
• \hline
• \end{array}\)
• C) \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 18,000 & \\
• \hline \text { Unearned Revenue } & & 10,500 \\
• \hline \text { Revenue } & & 7,500 \\
• \hline
• \end{array}\)
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Unearned Revernue } & 7,500 & \\
• \hline \text { Reverule } & & 7,500 \\
• \hline
• \end{array}\]

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