Reference no: EM132957895
Problem 1: A business maintains subsidiary accounts for each of its customers. On May? 15, the business provides services on? account: $2,500.00 to customer J.? Anthony; $5,000.00 to customer A.? Martin; and $1,000.00 to customer S. Lee. Which journal entry is needed to record these? transactions?
a. may 15
Accounts Receivable Control 8,500
Sales Revenue 8,500
b. may 15
Accounts Receivable 8,500
Service Revenue 8500
c. may 15
Accounts Receivable - J. Anthony 2,500
Accounts Receivable - A. Martin 5,000
Accounts Receivable - S. Lee 1,000
Service Revenue 8,500
d. May 15
Service Revenue 8,500
Accounts Receivable 8,500
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