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:

Lumbar

Pertaining to the lower back part of the spine comprising the five vertebrae between the rib cage and the pelvis.

Lower Back

The lumbar region of the spine, often associated with back pain due to its role in supporting the upper body.

Axillary

Pertaining to the armpit area, including structures such as lymph nodes, blood vessels, and nerves located within this region.

Antecubital

Referring to the area of the arm in front of the elbow where blood is commonly drawn.