On December 1,2019,Carrie's Day Care Receives $4,200 in Advance for an Agreement

question 113

Multiple Choice

On December 1,2019,Carrie's Day Care receives $4,200 in advance for an agreement to care for Susan's children for the months of December,January,and February.Carrie's Day Care will make an adjusting entry on December 31,2019 to:

• A)credit Revenue for $4,200.
• B)debit Unearned Revenue for $1,400.
• C)credit Revenue for $2,800.
• D)credit Prepaid Revenue for $2,800.

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Definitions:

Consensus Building

The process of working towards achieving general agreement within a group, often through negotiation and compromise.

Group-Oriented Cultures

Societal structures where group cohesion and collective well-being are emphasized over individual achievement.

Shared Values

Fundamental beliefs and principles that are held in common by members of an organization or group.

Distinguishing Characteristics

Unique attributes or qualities that set an individual, group, or thing apart from others.