Assume that on June 22 you accepted a down payment from your customer at the...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Assume that on June 22 you accepted a down payment from your customer at the amount of $12,000 for the services that will be rendered on July 5. On July 5, you provided services to your customer and asked your accountant Tony Lu to make a journal entry. What entry will Tony Lu make on July 5? Select one:
a. debit Unearned Revenue; credit Revenue
b. debit A/R; credit Revenue
c. debit Cash; credit Revenue
d. debit Revenue; credit Unearned Revenue
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.