Freedom Air Collected $165,000 in February for Charter Flights Booked

question 38

Multiple Choice

Freedom Air collected $165,000 in February for charter flights booked for March and April and properly recorded the amount collected as Unearned Charter Revenue. The flights provided during March earned revenue of $83,400. The correct entry to record the revenue earned in March is:

• A)Debit Cash $83,400; credit Flight Revenue $83,400.
• B)Debit Unearned Charter Revenue $83,400; credit Flight Revenue $83,400.
• C)Debit Unearned Charter Revenue $165,000; credit Flight Revenue $165,000.
• D)Debit Flight Revenue $81,600; credit Accounts Receivable 81,600.
• E)Debit Unearned Charter Revenue $83,400; credit Accounts Receivable $83,400.

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Definitions:

Elder Maltreatment

Abuse or neglect of older adults, involving physical, emotional, sexual, or financial harm, or neglect.

Adults

Individuals who have reached full physical maturity, typically characterized by completed growth and the attainment of legal age for societal responsibilities and privileges.

Percentage

A mathematical concept that represents a fraction of 100, used to express proportions and ratios.

Multigenerational Family

A family structure that includes members from more than two generations living together or in close proximity, such as grandparents, parents, and children.