The entry to record the receipt of RM800 on account for services previously rendered would be: Dr. Cash RM800 & Cr. Account payable RM800 Dr. Service revenue RM800 & Cr. Account receivable RM800 Dr. Cash RM800 & Cr. Account receivable RM800 Dr. Account receivable RM800 & Cr. Service revenue RM800

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A:

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.