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.

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Definitions:

Life Expectancy

The average number of years an individual is expected to live, based on current mortality rates and health conditions.

Life Course

A research perspective that focuses on the development of individuals over their lifespan, taking into account the historical and social context.

Live Independently

Refers to the ability of individuals to manage their lives and make decisions without relying on others for assistance.

Over the Age

This phrase is incomplete without context; it generally precedes an age specification to denote being older than a certain age threshold.