Asked by
Jordan Limongelli
on Oct 16, 2024
Verified
A law firm billed a client $1,800 for work performed in the current month.Which of the following general journal entries will the firm make to record this transaction?
A) Debit Accounts Receivable,$1,800; credit Unearned Legal Fees Revenue,$1,800.
B) Debit Cash,$1,800; credit Unearned Legal Fees Revenue,$1,800.
C) Debit Legal Fees Revenue,$1,800; credit Accounts Receivable,$1,800.
D) Debit Accounts Receivable,$1,800; credit Legal Fees Revenue,$1,800.
E) Debit Cash,$1,800; credit Accounts Receivable,$1,800.
Legal Fees Revenue
Income earned by businesses or individuals through providing legal services.
General Journal
A fundamental accounting ledger where financial transactions are initially recorded before being transferred to specific accounts in the ledger.
Accounts Receivable
Money owed to a business by its customers for goods or services delivered on credit.
- Apply debit and credit regulations to accurately register transactions.
- Understand the documentation of transactions through the double-entry accounting system.
Verified Answer
JS
Learning Objectives
- Apply debit and credit regulations to accurately register transactions.
- Understand the documentation of transactions through the double-entry accounting system.