Question

question 17 2.5 pts a law firm billed a client $2,600 for work performed in the current month. which of the following general journal entries will the firm make to record this transaction? debit cash, $2,600; credit accounts receivable, $2,600. debit cash, $2,600; credit unearned revenue, $2,600. debit services revenue, $2,600; credit accounts receivable, $2,600. debit accounts receivable, $2,600; credit unearned revenue, $2,600. debit accounts receivable, $2,600; credit services revenue, $2,600.

Explanation:

When a law - firm bills a client for services performed, it has earned revenue but has not yet received cash. Accounts Receivable (an asset) increases as the firm has a right to receive the money from the client, and Services Revenue (a revenue account) increases to recognize the earned income. Debiting Accounts Receivable and crediting Services Revenue records this transaction.

Answer:

Debit Accounts Receivable, $2,600; credit Services Revenue, $2,600.