Which of the Following Entries Records the Receipt of Cash

question 196

Multiple Choice

Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service.

• A) Prepaid Rent, debit; Rent Revenue, credit
• B) Cash, debit; Unearned Rent, credit
• C) Cash, debit; Prepaid Rent, credit
• D) Cash, debit; Rent Expense credit

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Definitions:

Population

The entire group of individuals or instances about whom the research is concerned or from which the data is collected.

Mean

The average of a set of numbers, calculated by dividing the sum of all values by the quantity of values.

Bell Shaped Distribution

Also known as a normal distribution, it is a probability distribution that has a symmetrical bell-shaped graph, indicating that most of the data points are concentrated around the mean.

Supply And Demand

Fundamental economic principles that describe the relationship between the availability of a product or service (supply) and the desire of potential buyers (demand).