On April 10,2013,Planet Services Received $4,800 in Advance from a Customer

question 62

Multiple Choice

On April 10,2013,Planet Services received $4,800 in advance from a customer for one month's service,to be provided from April 10,2013 to May 10,2013.What would be the journal entry to adjust the accounts at the end of April?

• A)debit Service Revenue $1,600 and credit Unearned Revenue $1,600
• B)debit Unearned Revenue $3,200 and credit Service Revenue $3,200
• C)debit Unearned Revenue $4,800 and credit Service Revenue $4,800
• D)debit Service Revenue $3,200 and credit Accounts Receivable $3,200

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Definitions:

Resilience

The capacity to recover quickly from difficulties; mental toughness and adaptability in the face of challenges.

Optimism

The tendency to hold a hopeful and positive outlook towards future outcomes.

Flexible

The ability to adapt quickly and effectively to new conditions or situations.

Independent

Not influenced or controlled by others; self-reliant.