Two Weeks Earlier, a Business Had Rendered Services to One

question 100

Multiple Choice

Two weeks earlier, a business had rendered services to one of its customers on account for which the payment was received today. Which of the following entries would be recorded if the company uses accrual basis accounting?

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Definitions:

Starving

Experiencing extreme hunger or suffering from the lack of food over a prolonged period, which can lead to severe health issues or death.

Nasopharynx

The nasopharynx is the upper part of the pharynx connecting the nasal cavity above the soft palate, serving as a passageway for air from the nose to the throat.

Glottis

The opening between the vocal cords in the larynx, playing a critical role in speech and breathing.

Reverse Peristalsis

The backward movement of the contents of the digestive tract, which can lead to vomiting, as a result of the muscles contracting in the opposite direction of normal digestion.