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A business maintains subsidiary accounts for each of its customers. On May 15, the business sells ...

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A business maintains subsidiary accounts for each of its customers. On May 15, the business sells ...

A business maintains subsidiary accounts for each of its customers. On May 15, the business sells services on account: $2,100 to customer J. Simmons; $4,000 to customer A. Jones; and $1,500 to customer J. Williams. Which journal entry is needed to record this sales transaction?

A) May 15   Accounts Receivable - J. Simmons   2,100
   Accounts Receivable - A. Jones   4,000
   Accounts Receivable - J. Williams   1,500
     Service Revenue      7,600

B) May 15   Accounts Receivable   7,600
     Service Revenue      7,600

C) May 15   Service Revenue   7,600
     Accounts Receivable      7,600

D) May 15   Accounts Receivable Control   7,600
     Sales Revenue      7,600

May 15   Accounts Receivable - J. Simmons   2,100
   Accounts Receivable - A. Jones   4,000
   Accounts Receivable - J. Williams   1,500
     Accounts Receivable - Control      7,600

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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