Gce Model Questions Vol1 2024 Financial Accounting Question 35

Practice objective / multiple choice question 35 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2024 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 35 GCE_MODEL_QUESTIONS_VOL1 • 2024 • FINANCIAL_ACCOUNTING • objective

A client paid £5{,}200 in cash for services that had previously been recorded as accounts receivable. Record the journal entry to reflect this receipt.

Answer Options

Correct Answer A. Debit Cash 5200; Credit Accounts Receivable 5200
B. Debit Cash 5200; Credit Service Revenue 5200
C. Debit Cash 5200; Credit Accounts Receivable 5000
D. Debit Accounts Receivable 5200; Credit Cash 5200
Correct Answer
A
Correct Option:
Debit Cash 5200; Credit Accounts Receivable 5200

About This Question

This is Gce Model Questions Vol1 2024 Financial Accounting Question 35. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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