A law firm collected $3,600 for work to be performed in the following month. Which of the following general journal entries will the firm make to record this transaction?
a. Debit Accounts Receivable, $3,600; credit Unearned Legal Fees Revenue, $3,600.
b. Debit Cash, $3,600; credit Unearned Legal Fees Revenue, $3,600.
c. Debit Legal Fees Revenue, $3,600; credit Accounts Receivable, $3,600.
d. Debit Accounts Receivable, $3,600; credit Legal Fees Revenue, $3,600.
e. Debit Cash, $3,600; credit Accounts Receivable, $3,600.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A law firm collected $3,600 for work to be performed in the following month. Which of the following general journal entries will the firm ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Advertising can: prevent economies of scale in manufacturing. increase demand for the product. assure a product does not fail. manipulate customers into buying a product. raise the cost of producing a product.
Answers (1)
Based on the following data, what is the amount of quick assets? Accounts payable $30,000 Accounts receivable 45,000 Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities
Answers (1)
Which type of tort happens when you unfairly damage another company's reputation? a. fraud b. conflict c. interference d. defamation user: good
Answers (1)
Hardware restoration had net purchases of 50,000. if the purchases returns and allowances are 10,000 and purchases discounts are 15,000 what are the gross purchase
Answers (2)
How do credit card companies determine their APRs?
Answers (1)
New Questions in Business
High tea, a retail store, claims to sell a pack of 20 tea bags at a discounted rate of $20 from an advertised original price of $40. the original price was verified by regulators to be $25. the pricing strategy applied by high tea is an example of
Answers (1)
Hanes uses Michael Jordan in its commercials to introduce a new brand of T-shirts. What advertising tactic does this represent? A. demonstration B. endorsement C. incentive D. sponsorship
Answers (1)
B) Harley's current wealth is $600, but there is a. 25 probability that he will lose $100. Harley is risk averse. He has an opportunity to buy insurance that would restore his $100 if he loses it.
Answers (1)
Assets, liabilities, and the equity owned by the owners of an organization is all recorded in the
Answers (1)
Roberta transfers property with a tax basis of $400 and a fair market value of $500 to a corporation in exchange for stock with a fair market value of $350 in a transaction that qualifies for deferral under section 351.
Answers (1)