A Company Received $5,000 for 100 One-Year Subscriptions on July

question 66

Multiple Choice

A company received $5,000 for 100 one-year subscriptions on July 1. The journal entry to record this cash receipt would include a:

• A)credit to Accounts Payable for $5,000.
• B)debit to Prepaid Expenses for $5,000.
• C)credit to Unearned Revenue for $5,000.
• D)debit to Note Payable for $5,000.