Journal Entries: Business Formation Example Video Lessons

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Problem: Performing a service for $500 cash and $700 on account would include a: a. debit to service revenue for $1,200 b. debit to accounts receivable for $700 c. credit to service revenue for $500 d. debit to cash for $1,200

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Problem Details

Performing a service for $500 cash and $700 on account would include a:

a. debit to service revenue for $1,200

b. debit to accounts receivable for $700

c. credit to service revenue for $500

d. debit to cash for $1,200

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Our tutors rated the difficulty ofPerforming a service for $500 cash and $700 on account would...as medium difficulty.