Accounting Analysis I: The Role of Accounting as an Information System | Online Course Support

Company X sold 500 computers for $500 on January 1 for cash. How would Company X record this journal entry?

 

Debit

Credit

Amount

Deferred Revenue

Sales Revenue

$250,000

Debit

Credit

Amount

Cash

Sales Revenue

$250,000

 

Debit

Credit

Amount

Cash

Deferred Revenue

$250,000

 

Debit

Credit

Amount

Accounts Receivable

Deferred Revenue

$250,000

 
 

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