In January, the All Irie Resort books and accepts a cash payment for $32,000 for...
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Accounting
In January, the All Irie Resort books and accepts a cash payment for $32,000 for vacation services to be provided during spring break in March. The journal entry recorded in January will include a debit to:
| Accounts Receivable and a credit to Service Revenue. | ||
| Accounts Payable and a credit to Service Revenue. | ||
| Prepaid Expenses and a credit to Service Revenue. | ||
| Cash and a credit to Unearned Revenue. |
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