On May 1,Sellers Marketing Company Received $1,500 from Franco Marcelli

question 76

Multiple Choice

On May 1,Sellers Marketing Company received $1,500 from Franco Marcelli for a marketing campaign effective from May 1 this year to April 30 of the following year.The Cash receipt was recorded as unearned fees and at year-end on December 31,$1,000 of the fees had been earned.The adjusting entry on December 31 would be:

• A)A debit to Unearned Fees and a credit to Cash for $500.
• B)A debit to Fees Earned and a credit to Unearned Fees for $500.
• C)A debit to Unearned Fees and a credit to Fees Earned for $1,000.
• D)A debit to Fees Earned and a credit to Cash for $1,000.
• E)A debit to Fees Earned and a credit to Cash for $500.

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Definitions:

Supply Chain

is a system encompassing the production, handling, and distribution of goods and services from the source of production to the consumer.

Late Delivery

The occurrence of a product or service not being delivered or completed by the expected time frame agreed upon with a customer or client.

Problem Solvers

Individuals or groups skilled in identifying, analyzing, and finding solutions for complex issues or challenges.

Performance Threats

External or internal factors that could negatively affect the performance or success of an individual or organization.