Northwest Natural is a public utility in Oregon. The 2011 annual report included the following footnote:
Utility revenues, derived primarily from the sale and transportation of gas, are recognized upon delivery of gas commodity or service to customers. Revenues include accruals for gas delivered but not yet billed to customers based on estimates of deliveries from meter reading dates to month end (accrued unbilled revenue). Accrued unbilled revenues are dependent upon a number of factors that require management€™s judgment, including total gas receipts and deliveries, customer use by billing cycle and weather factors. Accrued unbilled revenues are reversed the following month when actual billings occur.
The income statements showed the following ($ in thousands):

The balance sheets included the following as part of current assets ($ in thousands):


Prepare the adjusting journal entry for
(a) The unbilled revenues at the end of 2011,
(b) The eventual billing and collection of the unbilled revenues in 2012. Ignore incometaxes.

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December 31 Accounts receivable Accrued unbilled revenue 2011 $77,449 61,925 2010 $67,969 64,803