Homework Answers
The correct answer is "Credit to Service Revenue for $4,500."
Supporting explanations:
When services are earned or generated then Accounts Receivable is debited because the amount is not yet received and Service Revenue is credited because the services are already provided and revenue is earned.
Therefore, the adjusting journal entry at the year includes a debit to Accounts Receivable for $4,500 and a credit to Service Revenue for $4,500.
Hence, the correct answer is "a credit to Service Revenue for $4,500."
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