juanvil130525 juanvil130525

17-06-2024
Business

Answered

Chapter 1 Quiz

Question 8:

The sale of services to a customer on account increases the Service Revenue and the Accounts Receivable account.

A. True
B. False

Answer :

GinnyAnswer GinnyAnswer

17-06-2024

Final answer:

The sale of services to a customer on account increases both Service Revenue and Accounts Receivable.

Explanation:

True. The sale of services to a customer on account does indeed increase the Service Revenue and the Accounts Receivable accounts. When a service is provided to a customer on credit (on account), Service Revenue is recognized as the revenue earned, and Accounts Receivable is recorded as an asset representing the amount owed by the customer.

Learn more about Accounting and Sales here:

https://brainly.com/question/32302241

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