What would be the corresponding invoice accounting entry?

Correct Answer for the following Question is given below

A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:Dr Unbilled Receivables 40,000 Cr Revenue 40,000At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry?40,000Cr Revenue40,00040,000Cr Unbilled Receivables40,00040,000Cr Accounts Receivables40,00040,000Cr Revenue40,000

Question:

What would be the corresponding invoice accounting entry?

Options:

Dr Accounts Receivables

Dr Unbilled Receivables

Cr Unearned Revenue

Dr Unearned Revenue

Correct Answer

The Correct Answer for this Question is

Dr Accounts Receivables

Explanation

The Question – What would be the corresponding invoice accounting entry? has been answered correctly and answers for the question is Dr Accounts Receivables

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