Automotive installed new engine with billed price

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Reference no: EM131289612

1. During March, Getze Family Automotive installed a new engine with a billed price of $3,500. The company did not bill for the engine until April 1. Ignore the cost of the engine installed. What adjusting entry would Getze Family Automotive make on March 31?

A) Prepaid revenue 3,500

Service revenue 3,500

B) Service revenue 3,500

Unearned revenue 3,500

C) Unearned revenue 3,500

Service revenue 3,500

D) Accounts receivable 3,500

Service revenue 3,500

2. At March 31, Getze Family Automotive owes $5,400 for wages to be paid on April 8. What adjusting entry is necessary on March 31?

A) Wage expense 5,400

Unearned Wages 5,400

B) Wage expense 5,400

Accrued wages payable 5,400

C) Prepaid Wages 5,400

Wage expense 5,400

D) Unearned Wages 5,400

Wage expense 5,400

Reference no: EM131289612

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