Abc catering received $880 cash from a customer for catering services to be provided next month. given the choices below, determine the general journal entry that abc catering will make to record the cash receipt. assume the company’s policy is to initially record prepaid and unearned items in balance sheet accounts.
choices provided below:
unearned catering revenue 880
catering revenue 880
cash 880
accounts receivable 880
cash 880
unearned catering revenue 880
cash 880
catering revenue 880
accounts receivable 880
catering revenue 880

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u. s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

Luggage world buys briefcases with an invoice date of september 28. the terms of sale are 2/10 eom. what is the net date for this invoice

Predict how the price of athletic shorts would change if schools banned their use