on january 25, complete computer services received cash of $1,500 for service revenue earned.

the journal entry to record this transaction would be:

Question

on january 25, complete computer services received cash of $1,500 for service revenue earned.

the journal entry to record this transaction would be:

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "quick" ], "needs_drawing": false, "concepts_used": [ "Journal Entry", "Service Revenue Transaction" ], "new_concepts": [], "current_concepts": [ "Journal Entry", "Service Revenue Transaction" ] } ## Analyze the transaction $$ \begin{aligned} &\text{Transaction: Received cash of \$1,500 for service revenue earned.} \ &\text{Asset Increase: Cash (Debit) } = \$1,500 \ &\text{Revenue Increase: Service Revenue (Credit) } = \$1,500 \end{aligned} $$ ## Match with the options $$ \begin{aligned} &\text{Option 1: Debit Accounts Receivable \$1,500, Credit Service Revenue \$1,500 (Incorrect)} \ &\text{Option 2: Debit Service Revenue \$1,500, Credit Cash \$1,500 (Incorrect)} \ &\text{Option 3: Debit Service Revenue \$1,500, Credit Accounts Receivable \$1,500 (Incorrect)} \ &\text{Option 4: Debit Cash \$1,500, Credit Service Revenue \$1,500 (Correct)} \end{aligned} $$

(A) | Date | Accounts | Debit | Credit | |---|---|---|---| | | Accounts Receivable | 1,500 | | | | Service Revenue | | 1,500 |

(B) | Date | Accounts | Debit | Credit | |---|---|---|---| | | Service Revenue | 1,500 | | | | Cash | | 1,500 |

(C) | Date | Accounts | Debit | Credit | |---|---|---|---| | | Service Revenue | 1,500 | | | | Accounts Receivable | | 1,500 |

(D) | Date | Accounts | Debit | Credit | |---|---|---|---| | | Cash | 1,500 | | | | Service Revenue | | 1,500 |

(E) I don't know yet

{ "subject": "Business", "question_type": "Multiple Choice", "knowledge_point": [ "Business", "Accounting", "Journal Entry" ] }

Sovi.AI - AI Math Tutor

QUESTION IMAGE

Question

Explanation:

Analyze the transaction

Match with the options

Answer: