January 26. Wizsolution received $2,000 from clients in payment of their accounts.The correct journal entry is:
A. Dr. Accounts receivable 2,000 Cr. Cash 2,000
B. Dr. Cash 2,000 Cr. Accounts receivable 2,000
C. Dr. Cash 2,000 Cr. Accounts payable 2,000
January 22. Anna Jameson withdrew $1,000 cash from Wizsolution for personal use.The correct journal entry is:
A. Dr. Utilities expense 1,000 Cr. Anna Jameson, Drawing 1,000
B. Dr. Anna Jameson, Drawing 1,000 Cr. Cash 1,000
C. Dr. Cash 1,000 Cr. Anna Jameson, Drawing 1,000
January 20. Wizsolution completed a financial plan for a client and billed that client $1,600 for the service.The correct journal entry is:
A. Dr. Cash 1,600 Cr. Fees earned 1,600
B. Dr. Cash 1,600 Cr. Sales 1,600
C. Dr. Accounts receivable 1,600 Cr. Fees earned 1,600
January 19. Wizsolution paid $20,000 for the purchase of land as a future building site.The correct journal entry is:
A. Dr. Land 20,000 Cr. Cash 20,000
B. Dr. Land 20,000 Cr. Accounts payable 20,000
C. Dr. Land 20,000 Cr. Accounts receivable 20,000