What Would Be the Appropriate Entry for the Following Transaction

question 33

Multiple Choice

What would be the appropriate entry for the following transaction?
Bill Co.performed $5,200 in consulting services on account.

• A)Credit to Cash,debit to Accounts Receivable.
• B)Debit to Service Revenue,debit to Cash.
• C)Debit to Accounts Receivable,credit to Cash.
• D)Debit to Service Revenue,credit to Cash.
• E)Debit to Accounts Receivable,credit to Service Revenue.

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Definitions:

Third Party Beneficiaries

Individuals or entities who are not parties to a contract but stand to benefit from its execution or its terms.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis.

Client

A client is an individual or entity that engages the professional services or advice of another, establishing a professional relationship.

Civil Lawsuits

Legal actions between private parties (individuals or entities), not involving criminal penalties, where the plaintiff seeks compensation or remedial action for wrongs alleged.