On April 9,2021, X Company performed services for $1,700 on account. The entry to record this transaction is: * A debit to Cash $1,700 and a credit to Service Revenue $1,700 A debit to Account Receivable $1,700 and a credit to Unearned Service Revenue $1,700 A debit to Account Receivable $1,700 and a credit to Service Revenue $1,700 None of the above

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On April 9,2021, X Company performed
services for $1,700 on account. The
entry to record this transaction is:
A debit to Cash $1,700 and a credit to
Service Revenue $1,700
A debit to Account Receivable $1,700
O and a credit to Unearned Service
Revenue $1,700
A debit to Account Receivable $1,700
and a credit to Service Revenue $1,700
O None of the above
Transcribed Image Text:On April 9,2021, X Company performed services for $1,700 on account. The entry to record this transaction is: A debit to Cash $1,700 and a credit to Service Revenue $1,700 A debit to Account Receivable $1,700 O and a credit to Unearned Service Revenue $1,700 A debit to Account Receivable $1,700 and a credit to Service Revenue $1,700 O None of the above
The investment of $96,000 cash and
$133,000 building in a sole
proprietorship involves:
A credit to Cash and Building with a
total of $229,000
A debit to Cash and Building with a
total of $229,000
A credit to Stockholder's capital for
$229,000
None of the above
Transcribed Image Text:The investment of $96,000 cash and $133,000 building in a sole proprietorship involves: A credit to Cash and Building with a total of $229,000 A debit to Cash and Building with a total of $229,000 A credit to Stockholder's capital for $229,000 None of the above
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