A company receives payment from one of his customers on August 5 for service performed on July 21. Which of the following entries would be recorded if the company uses accrual basis accounting?
a) account payable 1000
cash 1000
b) cash 1000
account receivable 1000
c) service revenue 1000
cash 1000
d) cash 1000
service revenue 1000
+5
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Home » Business » A company receives payment from one of his customers on August 5 for service performed on July 21. Which of the following entries would be recorded if the company uses accrual basis accounting?