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
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