bptom5694 bptom5694

23-12-2022
Business

Answered

On July 7, Saints Inc. received $10,000 in cash from a customer for services to be provided on October 10. Which of the following describes how the transaction should be recorded on July 7?A) Debit Deferred Revenue $10,000, credit Cash $10,000.B) Debit Cash $10,000, credit Service Revenue $10,000.C) Debit Cash $10,000, credit Deferred Revenue $10,000.D) Debit Accounts Receivable $10,000, credit Service Revenue $10,000.

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