A roofing company collects payment when jobs are
complete. The work for one customer, whose job was bid at
$3,100, has been completed as of December 31 , but the
customer has not yet been billed. Assuming adjustments are
only made at year-end, what is the adjusting entry the
company would need to make on December 31 , the
calendar year-end?
Select one:
A. Debit Accounts Recelvable, $3,100; credit Roofing
Revenue, $3,100.
B. Debit Cash, $3,100; credit Roofing Revenue, $3,100.
C. Debit Roofing Revenue, $3,100; credit Accounts
Receivable, $3,100.
D. No adjustment is required.
E. Debit Roofing Revenue, $3,100; credit Cash, $3,100.
A roofing company collects payment when jobs are
complete. The work for one customer whose iob was bid a
$3.100.has been completed as of December31 but the
customer has not yet been billed. Assuming adjustments are
only made at year-end, what is the adjusting entry the company would need to make on December31.the
calendar year-end?
Select one:
O A. Debit Accounts Receivable,$3,100; credit Roofing Revenue,$3.100. O B. Debit Cash, $3,100; credit Roofing Revenue, $3,100. O C. Debit Roofing Revenue, $3,100; credit Accounts Receivable,$3,100
O D. No adjustment is required.
O E. Debit Roofing Revenue, $3,100: credit Cash $3,100