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

question 163

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 $6,000.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 $10,000
• D) Debit balance of $24,000

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Definitions:

The Telegraph

A historical communication system that transmitted messages over long distances by coding them as electrical signals.

Quid Pro Quo

A mutual exchange where something is given or received in return for something else, often used in the context of negotiations.

Sexual Harassment

Unwanted and unwelcome behavior of a sexual nature that can affect a person's job, work environment, or personal life, creating a hostile atmosphere.

Work Morale

The overall attitude, satisfaction, and outlook of employees towards their work and workplace, which can significantly impact productivity and job performance.