A company provided $12,000 of consulting services and was immediately paid in cash by the customer. Identify the journal entry below that properly records this transaction.
A.
| Accounts Receivable | 12,000 | |
| Consulting Services Revenue | 12,000 |
B.
| Cash | 12,000 | |
| Consulting Services Revenue | 12,000 |
C.
| Accounts Payable | 12,000 | |
| Consulting Services Revenue | 12,000 |
D.
| Accounts Receivable | 12,000 | |
| Cash | 12,000 |
E.
| Consulting Services Revenue | 12,000 | |
| Cash | 12,000 |
Answer: B
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