On August 31,2018,Allright Services Received $3,500 in Advance of Performing

question 191

Multiple Choice

On August 31,2018,Allright Services received $3,500 in advance of performing the service.Which journal entry is needed to record the receipt of cash?

• A) Debit Unearned Revenue $3,500, and credit Cash $3,500.
• B) Debit Cash $3,500, and credit Service Revenue $3,500.
• C) Debit Unearned Revenue $3,500, and credit Service Revenue $3,500.
• D) Debit Cash $3,500, and credit Unearned Revenue $3,500.

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Definitions:

Dwelling

A place where people live, such as a house or apartment.

Power

The ability or capacity to influence or control the behavior of others or the course of events.

Authority

The authority or capability to issue commands, make choices, and ensure compliance.

Hutterites

Members of a communal Anabaptist sect living primarily in the United States and Canada, known for their collective lifestyle and self-sufficiency.