On April 1,2017,Planet Services Received $14,200 in Advance of Performing

question 102

Multiple Choice

On April 1,2017,Planet Services received $14,200 in advance of performing the services from a customer for three months of service - April,May and June.What would be the journal entry to adjust the accounts at the end of May? (Do not round any intermediate calculations,and round your final answer to the nearest dollar. )

• A)Debit Service Revenue $4,733,and credit Unearned Revenue $4,733.
• B)Debit Unearned Revenue $9,467,and credit Service Revenue $9,467.
• C)Debit Unearned Revenue $14,200,and credit Service Revenue $14,200.
• D)Debit Service Revenue $9,467,and credit Accounts Receivable $9,467.

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Definitions:

Sales Technology

The transformation of manual sales activities to electronic processes through the use of various combinations of hardware and software applications.

Emotional Intelligence

The ability to recognize, understand, manage, and reason with emotions in oneself and others, facilitating interpersonal communication and decision-making.

Sales Industry

The sector of the economy focused on the activity of selling goods or services.

Account Analysis

The process of reviewing and evaluating a customer's account to understand their needs, spending patterns, and potential for future transactions.