Myla Road Company provides tour guide services. On October 10, the company received an advancepayment for $12,000 for tours to be provided later. On October 31, $10,000 of the services were provided.On November 12, the remaining services were provided. What journal entry should be made on October 107debit Deferred service revenue, $12,000; credit Service revenue, $12,000.debit Revenue, $10,000; credit Deferred service revenue, $10,000.(c) debit Cash, $12,000; credit Deferred service revenue, $12,000.debit cash, $12,000; credit service revenue, $12,000.none of the above

A journal entry is a form of accounting entry that is used to report a business transaction in a…

Myla Road Company provides tour guide services. On October 10, the company received an advance payment for $12,000 for tours to be provided later. On October 31, $10,000 of the services were provided. On November 12, the remaining services were provided. What journal entry should be made on October 107 A debit Deferred service revenue, $12,000; credit Service revenue, $12,000. debit Revenue, $10,000; credit Deferred service revenue, $10,000. C debit Cash, S12,000; credit Deferred service revenue, $12,000. debit cash, $12,000; credit service revenue, $12,000. none of the above

Myla Road Company provides tour guide services. On October 10, the company received an advance payment for $12,000 for tours to be provided later. On October 31, $10,000 of the services were provided. On November 12, the remaining services were provided. What journal entry should be made on October 107 A debit Deferred service revenue, $12,000; credit Service revenue, $12,000. debit Revenue, $10,000; credit Deferred service revenue, $10,000. C debit Cash, S12,000; credit Deferred service revenue, $12,000. debit cash, $12,000; credit service revenue, $12,000. none of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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