A company provided $12,000 of consulting services and was immediately paid in cash by the customer.Identify the journal entry below that properly records this transaction.

A)
B)
C)
D)
E)

Question

A company provided $12,000 of consulting services and was immediately paid in cash by the customer.Identify the journal entry below that properly records this transaction.A)   B)   C)   D)   E)

Jordan Newsom · Accepted Answer

Final Answer : B, Explanation :  The journal entry for this transaction is a debit to Cash and a credit to Service Revenue. Option B shows this correctly with Cash being debited for $12,000 and Service Revenue being credited for the same amount. Options A, C, D, and E do not have the correct accounts or amounts.

A company provided $12,000 of consulting services and was immediately paid in cash by the customer.Identify the journal entry below that properly records this transaction.

A)
B)
C)
D)
E)

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