Which of the following is the appropriate journal entry if a company performs a service and is paid immediately?
A)Debit to Cash,Debit to Revenue
B)Debit to Cash,Credit to Revenue
C)Debit to Accounts Receivable,Credit to Cash
D)Debit to Revenue,Credit to Accounts Receivable
E)Debit to Accounts Receivable,Credit to Revenue

Question

Quizplus · Accepted Answer

When a company performs a service and is paid immediately, the journal entry should include a debit to cash as the company receives cash, and a credit to revenue as the service performed generates revenue for the company. Therefore, the correct option is B, which includes a debit to cash and a credit to revenue.

Which of the Following Is the Appropriate Journal Entry If