On December 1,2012,Bears Inc

question 149

Multiple Choice

On December 1,2012,Bears Inc.signed a contract with a retailer to supply maintenance for the next calendar year.How should this transaction be recorded on December 1,2012?

• A)Debit Cash,credit Service Revenue.
• B)Debit Cash,credit Accounts Receivable.
• C)Debit Accounts Receivable,credit Service Revenue.
• D)No transaction should be recorded on December 1,2012.

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Definitions:

Condense

In mathematics, to condense an expression means to simplify it into a more compact form, often by using properties of logarithms or exponents.

Solution

The value or set of values that satisfy an equation, inequality, or system of equations, providing the answer to a mathematical problem.

Equation

A mathematical statement that asserts the equality of two expressions, typically in the form of 'A = B' where A and B can be algebraic expressions.

Logarithm

The exponent or power to which a base must be raised to yield a given number, generally expressed as log_base(number).