Which of the following journal entry is True when the business received cash for services provided? A) Debit Capital and credit Cash. B) Debit Cash and credit Revenue. C) Debit Revenue and credit Cash. D) Debit Cash and credit Capital

Which of the following journal entry is True when the business received cash for services provided? A) Debit Capital and credit Cash. B) Debit Cash and credit Revenue. C) Debit Revenue and credit Cash. D) Debit Cash and credit Capital

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries

Section21.2: Deferrals

Problem 1AYU

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Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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