Gce Model Questions Vol1 2019 Financial Accounting Question 40

Practice objective / multiple choice question 40 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2019 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 40 GCE_MODEL_QUESTIONS_VOL1 • 2019 • FINANCIAL_ACCOUNTING • objective

A company receives \(£3{,}000\) cash from a customer for services that will be performed next month. Record the journal entry for this transaction.

Answer Options

A. Debit Cash £3,000; Credit Service Revenue £3,000
B. Debit Accounts Receivable £3,000; Credit Service Revenue £3,000
C. Debit Unearned Revenue £3,000; Credit Cash £3,000
Correct Answer D. Debit Cash £3,000; Credit Unearned Revenue £3,000
Correct Answer
D
Correct Option:
Debit Cash £3,000; Credit Unearned Revenue £3,000

About This Question

This is Gce Model Questions Vol1 2019 Financial Accounting Question 40. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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