Which of the Following Entries Records the Collection of Cash

question 166

Multiple Choice

Which of the following entries records the collection of cash from cash customers?

• A) Fees Earned, debit; Cash, credit
• B) Fees Earned, debit; Accounts Receivable, credit
• C) Cash, debit; Fees Earned, credit
• D) Accounts Receivable, debit; Fees Earned, credit

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Definitions:

Fairness And Justice

Fairness And Justice involve principles of impartiality and equity where individuals receive fair treatment and decisions are made without favoritism or prejudice.

Doctrine Of Quasi Contract

An equitable legal concept implying a contract exists for fairness, despite no actual agreement between parties, to prevent unjust enrichment.

Performance Of A Contract

The execution of the duties and obligations as specified in a legal contract by the parties involved.

Compliance

The act of adhering to and following laws, regulations, standards, and ethical practices set by regulatory bodies or institutions.