Silvia's Studio provided $340 of dance instruction and rented out its dance studio to the...
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Accounting
Silvia's Studio provided $340 of dance instruction and rented out its dance studio to the same client for another $195. The client paid cash immediately. Identify the general journal entry below that Silvia's Studio will make to record the transaction.
Question 32 options:
A)
Account Title
Debit
Credit
Rental Revenue
195
Instruction Revenue
340
Cash
535
B)
Account Title
Debit
Credit
Accounts Payable
535
Rental Revenue
195
Instruction Revenue
340
C)
Account Title
Debit
Credit
Cash
535
Rental Revenue
195
Instruction Revenue
340
D)
Account Title
Debit
Credit
Rental Revenue
195
Instruction Revenue
340
Accounts Receivable
535
E)
Account Title
Debit
Credit
Unearned Revenue
535
Rental Revenue
195
Instruction Revenue
340
Answer & Explanation
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