On October 1, 2016, Amazing Landscaping collected $30,000 in advance from customers for landscaping services. The service

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On October 1, 2016, Amazing Landscaping collected $30,000 in advance from customers for landscaping services. The service revenue will be earned monthly over the six-month period ending March 31, 2017.

Requirements

1. Journalize the entry on October 1 by using the alternative treatment of deferred revenues.

2. Record the December 31, 2016 adjusting entry.

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133866292

5th edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Jun 12, 2015 10:26 AM

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On October 1, 2016, Amazing Landscaping collected $30,000 in advance from customers for landscaping services. The service

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Requirement 1 Date Accounts and Explanation Debit Credit Oct 1 Cash 30000 Service Revenue ...View the full answer

Horngrens Financial and Managerial Accounting

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