Hesson Properties, Inc.The following transactions occurred during June:
June 1Purchased two new maintenance carts on account at $750 each. Payment is due in 30 days June 8Accepted $500 of advance payments from customers for services to be provided next month June 15Received the utility bill for $300. Payment is due in 30 days June 20Billed customers $1,500 services provided. Payment is due in 30 days. June 30Received $500 from customers who were billed earlierRefer to Hesson Properties. What journal entry is required to record the cash collected in advance?
A. Cash 500
Service Revenue 500
B. Accounts Receivable 500
Service Revenue 500
C. Cash 500
Unearned Revenue 500
D. Unearned Revenue 500
Accounts Receivable 500
Answer: C
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