$\begin{array}{|c|c|c|c|c|}
\hline \text { March } & 6 & \text { Casih } && 2,500 & \
\hline & & \text { UnearnedFees } & && 2,500 \
\hline & & \text { ????????????} & & \
\hline
\end{array}$
What is the best explanation for this journal entry?
A)Received cash for services performed.
B)Received cash for services to be performed in the future.
C)Paid cash in advance for services to be done.
D)Paid cash for services to be performed.

Question

Quizplus · Accepted Answer

The journal entry indicates that cash was received and credited to Unearned Fees, which means the cash was received for services that are yet to be performed, making it a liability until the services are completed.

What Is the Best Explanation for This Journal Entry? A)Received

What Is the Best Explanation for This Journal Entry?
A)Received