Use the Information Below to Answer the Following Questions:
a $\quad$

question 54

Multiple Choice

Use the information below to answer the following questions:
A consultant performs accounting services for a client on 30 June 2012 and bills the client $350, to be paid within 60 days. Payment is duly made on 29 August 2012. Accrual accounting is used by both parties.
-What is the journal entry made by the consultant on 29 August 2012?

• A) DR Cash\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)CR Accounts receivable
• B) DR Cash\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)CR Service revenue
• C) DR Accounts receivable\(\quad\)CR Cash
• D) DR Service revenue\(\quad\)\(\quad\) CR Accounts receivable