Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 20 - No. 30)
When a business receives cash from a customer for services rendered, what is the typical double-entry accounting treatment?
Debit Cash, Credit Accounts Receivable.
Debit Cash, Credit Service Revenue.
Debit Accounts Receivable, Credit Cash.
Debit Service Revenue, Credit Cash.
Explanation
Cash increases (debit), and service revenue increases (credit).
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