On May 1,a Business Provided Legal Services to a Client

question 189

Multiple Choice

On May 1,a business provided legal services to a client and billed the client $4,000.The client promised to pay the business in one month.Which journal entry should the business record on May 1?

• A)Debit Cash for $4,000 and credit Service Revenue for $4,000.
• B)Debit Cash for $4,000 and credit Retained Earnings for $4,000.
• C)Debit Accounts Receivable for $4,000 and credit Service Revenue for $4,000.
• D)Debit Accounts Payable for $4,000 and credit Service Revenue for $4,000.

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