Question

A company receives $10,000 in cash for services yet to be performed. Using the accrual method, what's the correct entry to record the transaction? (A) Debit cash $10,000, credit accounts receivable $10,000 (B) Debit cash $10,000, credit sales revenue$1 0,000 (C) Debit sales revenue $10,000, credit cash $10,000 (D) Debit cash $10,000, credit unearned revenue $10,000 (E) Debit cash $10,000, credit accounts payable $10,000

Answer 1

Answer:

credit accounts receivable $10,000 (B)