James Wright Performed Handyman Services for $2500

question 16

Multiple Choice

James Wright performed handyman services for $2500. He received cash of $1500 with
The balance to be received within 28 days. Ignoring GST, the transaction is recorded as:

• A) DR Cash $1500; DR Accounts receivable $1000; CR Services revenue $2500
• B) DR Services revenue $2500; CR Cash $1500; CR Accounts payable $1000
• C) DR Cash $2500; CR Equity $2500
• D) DR Cash $1500; DR Equity $1000; CR Services revenue $2500

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Definitions:

Orbital

A region in an atom where there is a high probability of finding electrons.

Increasing pKa

This refers to the process or trend of increasing the acidity constant (pKa), indicating a decrease in acid strength.

Resonance Structures

Different Lewis structures for the same molecule that depict different possible arrangements of electrons.

AntiAromatic

Refers to organic compounds that are cyclic, conjugated, contain a planar ring system, but do not follow Huckel's rule, resulting in increased instability.