Bayside Technical Services Signed a Contract on a Six-Month Job

question 33

Multiple Choice

Bayside Technical Services signed a contract on a six-month job for a client, starting on March 1. Bayside will collect $24,000 from its customer when the job is finished but the revenue is earned evenly over the six months. On March 31, before adjusting entries are made, Bayside's Accounts Receivable account had a debit balance of $4,000. After the March 31 monthly adjusting entry has been made, what will be the balance in Accounts Receivable?

• A) Debit balance of $4,000
• B) Credit balance of $20,000
• C) Debit balance of $8,000
• D) Debit balance of $24,000

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Definitions:

Religion

A set of beliefs concerning the cause, nature, and purpose of the universe, especially when considered as the creation of a superhuman agency or agencies, usually involving devotional and ritual observances.

Gay Identity

The personal and social identity of an individual who recognizes themselves as being attracted to members of the same sex.

Sensitization

The process of becoming acutely sensitive to specific stimuli or environments, usually through repeated exposure.

Dissociation

A psychological condition in which there is a disconnection or lack of continuity between thoughts, memories, surroundings, actions, and identity.