Which of the Following Journal Entries Would Be Recorded If $\begin{array}{|l|r|r|}\hline \text { Service Revenue } & 900 \\\hline \text { Cash } &&900 \\\hline\end{array}$

question 173

Multiple Choice

Which of the following journal entries would be recorded if a business performs services and receives cash of $900 from the customer?

• A) \(\begin{array}{|l|r|r|}
• \hline \text { Service Revenue } & 900 \\
• \hline \text { Cash } &&900 \\
• \hline
• \end{array}\)
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Receivable } & 900 & \\
• \hline \text { Service Revenue } & & 900 \\
• \hline
• \end{array}\]
• C) \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 900 \\
• \hline \text { Service Revenue } &&900 \\
• \hline
• \end{array}\)
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Service Revenue } & 900 & \\
• \hline \text { Accounts Receivable } & & 900 \\
• \hline
• \end{array}\]

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Definitions:

Accounting

Accounting is the systematic practice, work, or process of communicating and recording financial information for a business or individual.

Finance

The management of large amounts of money, especially by governments or large companies, including the processes of investing, borrowing, lending, budgeting, saving, and forecasting.

Stocks and Bonds

Financial instruments that represent ownership in a company (stocks) and debt obligations (bonds), respectively, offering different levels of risk and potential returns.

Cash Flows

The aggregate sum of funds flowing in and out of a company, significantly influencing its ability to meet short-term obligations.