What are the accounting entries at the end of May?

A company generates revenue at period end, but bills monthly in advance. The customer is
invoiced in April with project starting in May and the first project is due to be recognized at the end
of May. What are the accounting entries at the end of May?

A.
Debit: Cost of Goods SoldCredit: Unbilled Receivables

B.
Debit: Unearned RevenueCredit: Revenue

C.
Debit:ReceivableCredit:Bank

D.
Debit:ReceivableCredit: Unearned Revenue

E.
Debit: BankCredit: Revenue

Explanation:
Invoice
When you run the program to interface invoices to Oracle Receivables, Oracle Projects runs

AutoAccounting to determine the appropriate default accounts. If the invoice fails AutoAccounting,
then the program marks the draft invoice with an error. See: Overview of AutoAccounting, Oracle
Projects Implementation Guide.
The following table shows entries Oracle Projects creates when the Interface Invoices to Oracle
Receivables process is run:
AccountDebitCredit
Receivables200.00
Unbilled Receivables and/or Unearned Revenue200.00

Oracle Project Billing User Guide