On June 20,2013,Parker Services Received $2,400 in Advance from a Customer

question 158

Multiple Choice

On June 20,2013,Parker Services received $2,400 in advance from a customer for one month's service.The journal entry to adjust the accounts at the end of June would be which of the following?

• A) Debit Service revenue $1,600 and credit Unearned service revenue $1,600.
• B) Debit Unearned service revenue $800 and credit Service revenue $800.
• C) Debit Unearned service revenue $2,400 and credit Service revenue $2,400.
• D) Debit Service revenue $800 and credit Accounts receivable $800.

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Definitions:

Populations

In statistics, this term refers to the entire pool from which a statistical sample is drawn and is the subject of a study.

Caffeinated Beverages

Drinks that contain caffeine, a stimulant that can affect the central nervous system.

Wilcoxon Signed Rank Test

A non-parametric statistical test used to compare two related samples, testing the null hypothesis that their population mean ranks differ.

Null Hypothesis

A statement used in statistics that proposes there is no significant difference or effect, serving as the assumption to be tested.