Which of the following is the entry to be recorded by a law firm when it receives a 52,000 retainer from a new client at the initial client meeting?
a. Debit to Cash. $2.000: credit to Legal Fees Revenue. $2.000.
b. Debit to Accounts Receivable. 52,000: credit to Legal Fees Revenue, 52.000.
c. Debit to Unearned Revenue, $2.000: credit to Legal Fees Revenue, 52.000.
d. Debit to Cash. $2.000: credit to Unearned Revenue. 52.000.
e. Debit to Unearned Revenue. $2.000: credit to Cash. 52.000.
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