Ch 2 Quiz i 90100 Total points awarded Help Submittod MC Qu

Ch 2 Quiz i 90/100 Total points awarded Help Submittod MC Qu. 111 A law firm collected... A law firm collected $2,500 for work to be performed in the following month. Which of the following general journal entries will the firm make to record this transaction? 0/10 points awarded Scored Multiple Choice eBook Debit Cash, $2,500, credit Accounts Receivable, $2,500 Reterences Deblt Cash, $2,500; credit Unearned Legal Fees Revenue, $2,500. Debit Accounts Receivable, $2.500; credit Unearned Legal Fees Revenue, $2,500. Debit Legal Fees Revenue, $2,500, credit Accounts Receivable, $2,500 Debit Accounts Receivable. $2,500; credit Legal Fees Revenue, $2.500

Solution

Debit : Cash $2,500

Credit: Unearned legal fees revenue $2,500

The amount recieved is in cash, so it will be debited and to be worked in following month (till now not performed) will be credited to Unearned legal fees revenue