Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on may 10, a business collected $50 cash on accoun

On May 10, a business collected $50 cash on account is journalized. The transaction was...

90.2K

Verified Solution

Question

Accounting

On May 10, a business collected $50 cash on account is journalized. The transaction was recorded as a debit to Cash and a credit to Service revenue.

The correcting entry would debit______[ a. cash b. notes receivable c. unearned revenue d. prepaid revenue e. accounts receivable f. service revenue] and credit ______[ a. cash b. notes receivable c. unearned revenue d. prepaid revenue e. accounts receivable f. service revenue] for $_______.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Explain why psychology is considered a science. Are there any subfields that appear to have more...

Psychology
Q

Describe what Debt is, how it affects cash flow and the risks to both the lender...

General Management
Q

Nautical Creations is one of the largest producers of miniature ships in a bottle. An especially...

Accounting
Q

4 2 11 Review Solve for x and y in the diagram below y 23...

Geometry
Q

Find the length of a side of a square whose diagonal is 10 in. long....

Basic Math
Q

men she was 9 years of age a girl did a science fair experiment in...

Statistics
Q

Let f x lim 43 8 x x 2x 3 Calculate the following limits Enter...

Calculus
Q

Polynomial Addition Simplify each sum 1 3n 8n2n n A 5n4 8n C 7n 8n...

Algebra
Q

Individuals who are sole proprietors or who have formed single member LLCs report business income...

Accounting
Q

You have been provided with the following information: If sales decrease by 10%, what level...

Accounting
Q

If an employer pays unemployment taxes to two states, it will have the same SUTA...

Accounting
Q

Exercise 13-12 The following elements of shareholders' equity are adapted from the balance sheet...

Accounting