Answer:
Debit cash and credit a liability account
Q:
Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?
Step-by-step explanation:
The company will dbeit the cash, as it is receiving it and cash is an asset account that increase from debit.
As the company receives the amount in advance, it assumes the obligation to perform in the future. This is the concept of a liability.
To be a revenue, it is required that the services or sale is performed. As the payment is before the sale or service it is not earned.