Revs, Inc. collected 5,000 from a customer on May 15 for services ...

[lracut11]

Revs, Inc. collected 5,000 from a customer on May 15 for services to be performed in June. The May 15 journal entry to record this transaction is a debit to ________.
 
  A) Cash of 5,000 and a credit to Revenues of 5,000
  B) Cash of 5,000 and a credit to Accounts receivable of 5,000
  C) Unearned revenue of 5,000 and a credit to Cash of 5,000
  D) Cash of 5,000 and a credit to Unearned revenue of 5,000

Question 2

When the terms of sale are FOB shipping point, the buyer should pay the freight charges.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[flannelavenger]

Answer to Question 1

D

Answer to Question 2

True

[lracut11]

YES! Correct, THANKS for helping me on my review

[kusterl]

Thanks for the timely response, appreciate it