A Company Provided $12,000 of Consulting Services and Was Immediately $\begin{array}{|l|r|r|}\hline \text { Accounts Receivable } & 12,000 & \\\hline \text { Cash } & & 12,000 \\\hline\end{array}$

question 65

Multiple Choice

A company provided $12,000 of consulting services and was immediately paid in cash by the customer. Identify the journal entry below that properly records this transaction.

• A) \(\begin{array}{|l|r|r|}
• \hline \text { Accounts Receivable } & 12,000 & \\
• \hline \text { Cash } & & 12,000 \\
• \hline
• \end{array}\)
• B) \(\begin{array}{|l|r|l|}
• \hline \text { Cash } & 12,000 & \\
• \hline \text { Consulting Services Revenue } & & 12,000 \\
• \hline
• \end{array}\)
• C) \(\begin{array}{|l|r|r|}
• \hline \text { Consulting Services Revenue } & 12,000 & \\
• \hline \text { Cash } & & 12,000 \\
• \hline
• \end{array}\)
• D) \(\begin{array}{|l|r|l|}
• \hline \text { Accounts Payable } & 12,000 & \\
• \hline \text { Consulting Services Revenue } & & 12,000 \\
• \hline
• \end{array}\)
• E) \(\begin{array}{|l|r|l|}
• \hline \text { Accounts Receivable } & 12,000 & \\
• \hline \text { Consulting Services Revenue } & & 12,000 \\
• \hline
• \end{array}\)

Describe the mechanisms of nutrient absorption and transport.

Understand the physiological adaptations for digestion across different species.

Explain the regulation of blood glucose levels and the hormonal control involved.

Describe the biochemical pathways involved in metabolism and energy storage.

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Definitions:

Capital Balance

The amount of money that an individual or entity has contributed towards the capital of a company, often reflected in the equity section of a balance sheet.

Net Loss

Occurs when a company's total expenses exceed its total revenues during a specific period, resulting in a negative profit.

Operations

The day-to-day activities necessary for an organization to function effectively, including production, sales, and administration processes.

Articles of Partnership

A document that formalizes an agreement between parties to form a business partnership, outlining the roles, responsibilities, and share of profits among the partners.