Assume at March 15,2015,the Time of Signing the Contract,collection of the Receivable

question 24

Multiple Choice

Assume at March 15,2015,the time of signing the contract,collection of the receivable was reasonably assured and there were no significant continuing obligations.The journal entry at signing would include a:

• A)Credit to franchise fee revenue for $36,000.
• B)Credit to franchise fee revenue for $9,000.
• C)Credit to unearned franchise fee revenue for $36,000.
• D)Credit to unearned franchise fee revenue for $27,000.

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Definitions:

Healthy Release

A process or activity that allows an individual to effectively express or let go of pent-up emotions, stress, or tension, contributing to psychological well-being and stress relief.

Hedonic Treadmill

A psychological phenomenon that suggests people tend to return to a relatively stable level of happiness despite major positive or negative events or life changes.

Minor Physical Injuries

Bodily harm that is not severe or life-threatening, often including cuts, bruises, or minor burns.

Pre-Injury Level

A state of physical or mental ability or health before an individual suffered an injury, used as a baseline for recovery or treatment goals.