Adams Company Recorded the Following Journal Entry on March 2,2018 $\begin{array}{|l|r|r|}\hline\text { Cash } & 8,500 \\\hline \text { Unearned Revenue } & & 8,500 \\\hline\end{array}$

question 152

Multiple Choice

Adams Company recorded the following journal entry on March 2,2018. $\begin{array}{|l|r|r|}\hline\text { Cash } & 8,500 \\\hline \text { Unearned Revenue } & & 8,500 \\\hline\end{array}$
From the journal entry above,identify the transaction on March 2,2018.

• A) Adams purchased goods worth $8,500 and signed a one-year note for the same amount.
• B) Adams sold goods for $8,500 cash.
• C) Adams received $8,500 for services to be performed in a later period.
• D) Adams paid $8,500 for services to be received at a later date.

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