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Orlov [11]
3 years ago
5

GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $60,000 for 6-months services in adv

ance. GreenLawnâs general journal entry to record this transaction will include a:
Multiple Choice

Debit to Unearned Revenue for $60,000.

Credit to Cash for $60,000.

Credit to Unearned Revenue for $60,000.

Debit to Accounts Receivable for $60,000.

Credit to Accounts Receivable for $60,000.
Business
1 answer:
Dvinal [7]3 years ago
8 0

Answer:

Credit to Unearned Revenue for $60,000.

Explanation:

Journal Entry of $60,000 for 6-months services in advance ia as follow:

                                        Dr.                     Cr.

Cash                           $60,000

Unearned Revenue                             $60,000

Services are not performed by GreenLawn Co. so the amount received will be considered as a liability and It will be named as unearned revenue. Cash received will be debited to the cash account. After the performance of service  of each month the revenue will be recognized and transferred from unearned revenue account to service revenue account.

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Andre45 [30]

Answer:

The answer for the first blank is needs, the second blank is preferences.

Explanation:

The need for sustenance is a primary drive for all living creatures, including humans. The advertisement shows this by casting hungry teenagers who are seeking to fulfill this drive. Since the company producing this advertisement sells Hot Pocket, they wanted to associate ‘fulfilling the hunger drive’ with their product. That way, customers who view this advertisement are more likely to choose Hot Pocket compared to its competitors.  

7 0
3 years ago
if an average person earns $100.00, and has 25% taken out for taxes, how much will they pay in taxes?
NNADVOKAT [17]
25% of 100 is $25 hopefully thats what you were asking for
3 0
3 years ago
You are putting together a team for a special project at work. Your friend Jim and another co-worker John both want to be on the
stellarik [79]

Answer:

You choose Jim since they are both similar employees and choosing your friend is OK

Explanation:

Since in the question it is mentioned that Jim and John both wants to be on the team but there is only one room that belong to other one person. Although they have the same skill and work ethics so here we should choose Jim as it is okay to select friend who have the same attributes or characteristics

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7 0
3 years ago
Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly
Alenkinab [10]

Answer:

a.  

Dr. Cash   15000

Dr. Law Library (Asset) 6000

Cr. Mary (Capital Account) 21000

b.

Dr. Office equipment 7500

Cr. Account Payable  7500

c.

Dr. Cash   1500

Cr. Income / Revenue 1500

d.

Dr. Account Payable  3500

Cr. Cash   3500

e.

Dr. Account Receivable 4000

Cr. Income / Revenue 4000

f.

Dr. Marry (Capital Account) 2000

Cr. Cash   2000

g.

Dr. Cash   2500

Cr. Account Receivable (e) 2500

h.

Dr. Salary Expense  2500

Cr. Cash   2500

Explanation:

*Trial Balance and T accounts are made in an MS Excel file which is attached please find.

Download xlsx
3 0
3 years ago
In an investment center, the manager has the responsibility for and the authority to make decisions that affect a. both costs an
yaroslaw [1]

Answer:

The answer is B.) Cost, revenue, and assets invested in the center

Explanation:

An investment center is a responsibility center in which the department manager is responsible for costs, revenues and assets for the department.

An investment center is also a business unit in a firm that can utilize capital to contribute directly to a company's profitability.

Examples of departments that make up the cost center are the human resource and marketing departments, units that falls under a profit center include the manufacturing and sales department.

6 0
3 years ago
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