In January, the Huntington Beach Resort (HBR) accepts your reservation and receives your $2,000 payment for a week of sun and fun in California during spring break. In January, HBR will record a journal entry that includes a debit to:
A. Cash and a credit to Deferred Revenue.
B. Service Revenue and a credit to Cash.
C. Cash and a credit to Service Revenue.
D. Accounts Payable and a credit to Service Revenue.
Answer: A
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