Star Search billed clients P 3,600 for services rendered. Which of the following reflects the proper journal entry for this transaction? A. Debit Accounts Payable P 3,600; credit Agency Revenue P 3,600 B. Debit Accounts Receivable P 3,600; credit Agency Revenue P 3,600 C. Debit Cash P 3,600; credit Agency Revenue P 3,600 D. Debit Agency Revenue P 3,600; credit Accounts Receivable P 3,600
Star Search billed clients P 3,600 for services rendered. Which of the following reflects the proper journal entry for this transaction? A. Debit Accounts Payable P 3,600; credit Agency Revenue P 3,600 B. Debit Accounts Receivable P 3,600; credit Agency Revenue P 3,600 C. Debit Cash P 3,600; credit Agency Revenue P 3,600 D. Debit Agency Revenue P 3,600; credit Accounts Receivable P 3,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Star Search billed clients P 3,600 for services rendered. Which of the following reflects the proper journal entry for this transaction?
A. Debit Accounts Payable P 3,600; credit Agency Revenue P 3,600
B. Debit Accounts Receivable P 3,600; credit Agency Revenue P 3,600
C. Debit Cash P 3,600; credit Agency Revenue P 3,600
D. Debit Agency Revenue P 3,600; credit Accounts Receivable P 3,600
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