A Company Received $5,000 for 100 One-Year Subscriptions on July

question 7

Multiple Choice

A company received $5,000 for 100 one-year subscriptions on July 1.The journal entry to record this cash receipt would include a ________.The company uses a liability account for revenue received in advance.

• A) credit to Accounts Payable for $5,000
• B) debit to Prepaid Expenses for $5,000
• C) credit to Unearned Revenue for $5,000
• D) debit to Note Payable for $5,000

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Definitions:

Common Goal

A shared objective or outcome that all parties involved in a negotiation or project are trying to achieve.

Shared Result

An outcome of a collaborative effort that benefits all involved parties.

Collective Effort

The combined work and cooperation of a group of individuals working together towards a common goal.

Integrative Negotiation Process

A negotiation approach aimed at finding mutually beneficial solutions by expanding the available resources or creating value.