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Describes how the transaction should be recorded on July

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Question - On July 7, Saints Incorporated received $9,800 in cash from a customer for services to be provided on October 10. Which of the following describes how the transaction should be recorded on July 7?

Debit Accounts Receivable $9,800, credit Service Revenue $9,800

Debit Cash $9,800, credit Deferred Revenue $9,800

Debit Cash $9,800, credit Service Revenue $9,800

Debit deffered rev 9800 credit cash 9800

Reference no: EM132637738

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