Which of the Following Entries Would Be Made as the Result

question 153

Multiple Choice

Which of the following entries would be made as the result of the revenue recognition principle?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Service Expense } & 1,000 & \\
• \hline \text { Service Revenue } & & 1,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Receivable } & 1,000 & \\
• \hline \text { Service Revenue } & & 1,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Salaries Expense } & 1,000 & \\
• \hline \text { Accounts Payable } & & 1,000 \\
• \hline
• \end{array}\]
• D) \(\begin{array}{|c|r|r|}
• \hline \text { Depreciation Expense } & 1,000 & \\
• \hline \text { Accumulated Depreciation } & & 1,000 \\
• \hline
• \end{array}\)

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Definitions:

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