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Financial Accounting

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Moderate

Adjusting Entries: Deferred Revenue

FINACT-DODCS4

Which of the following is the appropriate entry on a seller’s books to record the subsequent delivery of services that have been previously paid for by a customer?

A

Accounts Receivable . . . \$XXXX

Fee Revenue . . . \$XXXX

B

Deferred Revenue . . . \$XXXX

Fee Revenue . . . \$XXXX

C

Cash . . . \$XXXX

Accounts Receivable . . . \$XXXX

D

Cash . . . \$XXXX

Deferred Revenue . . . \$XXXX