Brookings Brothers supplies management consulting services and bills large firms $100,000 prior to a consulting engagement for
services that will be performed. Which of the entries below would most accurately reflect the posting required?
O Credit Cash $100,000 and credit Unearned Service Revenue $100,000.
O Debit Cash $100,000 and credit Unearned Service Revenue $100,000.
O Credit Cash $100,000 and debit Unearned Service Revenue $100,000.
O Debit Cash $100,000 and debit Unearned Service Revenue $100,000.

Question

02-09-2021
Advanced Placement (AP)

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Brookings Brothers supplies management consulting services and bills large firms $100,000 prior to a consulting engagement for
services that will be performed. Which of the entries below would most accurately reflect the posting required?
O Credit Cash $100,000 and credit Unearned Service Revenue $100,000.
O Debit Cash $100,000 and credit Unearned Service Revenue $100,000.
O Credit Cash $100,000 and debit Unearned Service Revenue $100,000.
O Debit Cash $100,000 and debit Unearned Service Revenue $100,000.

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Nicolesheila2001idn Nicolesheila2001idn · Answer 1 · 2021-09-06T15:28:06-04:00

Nicolesheila2001idn Nicolesheila2001idn

06-09-2021

Answer:debit cash $100,000 and credit unearned service revenue $100,000

Explanation:

Receiving cash in advance of services will increase the cash account (debit) and the unearned service revenue account (credit). A liability is recorded because services are owed.

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Topeadeniran2idn Topeadeniran2idn · Answer 2 · 2021-09-07T13:39:59-04:00

The entry that accurately reflect the posting required is "Debit cash $100,000 and credit unearned service revenue by $100,000".

It should be noted that when a business receiving cash in advance, thus will lead to an increase in the cash account.

In such case, the unearned service revenue account will be credited while cash will be debited.

In conclusion, the correct option is C.

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