What Would Be the Appropriate Entry for the Following Transaction

question 200

Multiple Choice

What would be the appropriate entry for the following transaction?
Bill Co.performed $5,200 in consulting services on account

• A)Credit to Cash,Debit to Accounts Receivable
• B)Debit to Revenue,Debit to Cash
• C)Debit to Accounts Receivable,Credit to Cash
• D)Debit to Revenue,Credit to Cash
• E)Debit to Accounts Receivable,Credit to Revenue

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Definitions:

Incentive to Acquire

Motivation or reason for individuals or entities to obtain or gain possession of assets.

Nonexcludable

Characterizes a good or service for which it is not possible to prevent individuals who do not pay from consuming it, leading to potential free-rider problems.

Nonpaying Customers

Individuals who receive a good or service without providing monetary compensation.

Externality

A cost or benefit caused by a producer that is not financially incurred or received by that producer.