On Oct. 25th American Airlines sold $375,000 worth of tickets electronically for various flights that...
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On Oct. 25th American Airlines sold $375,000 worth of tickets electronically for various flights that would occur a month later on Thanksgiving Day. The journal entry that American Airlines would record on Oct. 25th is:
a. Db. Deferred Revenue $375,000
Cr. Accounts Receivable $375,000
b. Db. Sales Revenue $375,000
Cr. Accounts Receivable $375,000
c. Db. Accounts Receivable $375,000
Cr. Sales Revenue $375,000
d. Db. Accounts Receivable $375,000
Cr. Deferred Revenue $375,000
On Oct. 25th American Airlines sold $375,000 worth of tickets electronically for various flights that would occur a month later on Thanksgiving Day. The journal entry that American Airlines would record on Oct. 25th is:
| a. | Db. Deferred Revenue $375,000 Cr. Accounts Receivable $375,000 | |
| b. | Db. Sales Revenue $375,000 Cr. Accounts Receivable $375,000 | |
| c. | Db. Accounts Receivable $375,000 Cr. Sales Revenue $375,000 | |
| d. | Db. Accounts Receivable $375,000 Cr. Deferred Revenue $375,000 |
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