Questions
Single choice
Billed customers $14,000 for services provided. (Hint: Bills and invoices reflect goods or services that have been provided, but are unpaid, unless specified otherwise.)
Options
A.Dr. Cash 14,000 Cr. Service Revenue 14,000
B.Dr. Service Revenue 14,000 Cr. Cash 14,000
C.Dr. Accounts Receivable 14,000 Cr. Service Revenue 14,000
D.None of the above
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Step-by-Step Analysis
The scenario describes a billed (unpaid) amount: the company has provided services worth $14,000 and recorded receivable rather than cash yet. This requires increasing Accounts Receivable and increasing Service Revenue, with a corresponding credit to revenue and a debit to asset receivable.
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