Julie lambert has a large catering company. on may 1, a new client paid a 25% deposit of s1000 in advance of an event. the remaining balance of $3,000 was paid on june 15, when the event was catered. which journal entry should lambert record on june 15? 03 multiple choice a. debit cash $3,000 debit unearned catering revenue $1.000; credit catering revenue earned $4,000 b. debit cash $3.000; credit unearned catering revenue $3.000 c. no entry is required when the event is catered d. debit prepaid catering revenue $4,000, credit catering revenue earned $4,000

A. Debit Cash $3,000 debit Unearned Catering Revenue $1.000; credit Catering Revenue Earned $4,000

Explanation:

The journal entry is shown below:

Cash A/c Dr $3,000

Unearned catering revenue A/c Dr $1,000

     To Catering revenue earnedA/c  $4,000

(Being unearned revenue is recorded)

Since advance payment of $1,000 is made which is 25% of the deposit amount. So, the deposit amount would be

= $1,000 × 100 ÷ 25

= $4,000

And, the remaining balance i.e $3,000 was paid in cash so we debited the cash account with this amount

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

answer; capital structure decision;