Which of the Following Journal Entries Would Be Recorded If $$\begin{array} { | c | r | r | } \hline \text { Service revenue } & 900 & \\\hline \text { Cash } & & 900 \\\hline\end{array}$$

question 63

Multiple Choice

Which of the following journal entries would be recorded if a business renders service and receives cash of $900 from the customer?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Service revenue } & 900 & \\
• \hline \text { Cash } & & 900 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Service revenue } & 900 & \\
• \hline \text { Accounts payable } & & 900 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Cash } & 900 & \\
• \hline \text { Service revenue } & & 900 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Service revenue } & 900 & \\
• \hline \text { Accounts receivable } & & 900 \\
• \hline
• \end{array}\]

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Definitions:

Statute of Limitations

Legislation that specifies the longest duration allowed to initiate legal action, varying by the nature of the claim or case.

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A method of raising capital through the sale of securities to a relatively small number of selected investors as opposed to a public offering.

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