To record a receipt of payment in January for services not performed: $250 for February and $450 for March, the following is included in the journal entry Debit cash for $700, credit revenue for $700 Debit cash for $700, credit unearned revenue for $700
To record a receipt of payment in January for services not performed: $250 for February and $450 for March, the following is included in the journal entry Debit cash for $700, credit revenue for $700 Debit cash for $700, credit unearned revenue for $700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:To record a receipt of payment in January for services not performed: $250 for
February and $450 for March, the following is included in the journal entry
O Debit cash for $700, credit revenue for $700
O Debit cash for $700, credit unearned revenue for $700
Debit cash for $700, credit unearned revenue for $450 and credit revenue for $250
O Debit cash for $450, debit unearned revenue for $250 and credit revenue for $700
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