The Journal Entry to Record a Note Received from a Customer

question 61

Multiple Choice

The journal entry to record a note received from a customer to apply on account is:

• A)debit Note Receivable and credit Service Revenue.
• B)debit Service Revenue and credit Note Receivable.
• C)debit Note Payable and credit Note Receivable.
• D)debit Note Receivable and credit Accounts Receivable.

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Definitions:

Life Instincts

The drive for ensuring survival of the individual and the species by satisfying the needs for food, water, air, and sex.

Death Instincts

The unconscious drive toward decay, destruction, and aggression.

Preconscious

Pertains to thoughts and feelings not immediately in conscious awareness but can be readily brought to consciousness.

Personality Structure

The organization and dynamics of individual personality components, including traits, attitudes, and behaviors that define a person's unique personality.