Golddigger Services Inc

question 110

Multiple Choice

Golddigger Services Inc. provides services to clients. On May 1, a client prepaid Golddigger Services $60,000 for 6-months services in advance. Golddigger Services' general journal entry to record this transaction will include a:

• A) Debit to Management Fees Earned for $60,000.
• B) Credit to Management Fees Earned for $60,000.
• C) Credit to Unearned Management Fees for $60,000.
• D) Credit to Cash for $60,000.
• E) Debit to Unearned Management Fees for $60,000.

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Definitions:

AIDS Virus

Incorrectly specified key term, the correct term is Human Immunodeficiency Virus (HIV) which causes Acquired Immunodeficiency Syndrome (AIDS).

Anal Intercourse

A form of sexual activity involving stimulation of the anal region.

Infected With AIDS

Referring to having acquired the Human Immunodeficiency Virus (HIV), which severely damages the immune system and can lead to Acquired Immune Deficiency Syndrome (AIDS).

Sexual Activity

Engaging in any action that is intended to arouse or satisfy sexual desires, including intercourse and other forms of sexual conduct.