Reference no: EM133010646
Problem 1: A law firm billed a client $2,400 for work performed in the current month. Which of the following general journal entries will the firm make to record this transaction?
Multiple Choice
Option 1: Debit Accounts Receivable, $2,400; credit Unearned Legal Fees Revenue, $2,400.
Option 2: Debit Cash, $2,400; credit Unearned Legal Fees Revenue, $2,400.
Option 3: Debit Legal Fees Revenue, $2,400; credit Accounts Receivable, $2,400.
Option 4: Debit Accounts Receivable, $2,400; credit Legal Fees Revenue, $2,400.
Option 5: Debit Cash, $2,400; credit Accounts Receivable, $2,400.
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