On September 1, 2018, Salem Landscaping collected $24,000 in advance from customers for landscaping services. The service
Question:
On September 1, 2018, Salem Landscaping collected $24,000 in advance from customers for landscaping services. The service revenue will be earned monthly over the 12-month period ending August 31, 2019.
Requirements
1. Journalize the entry on September 1 by using the alternative treatment of deferred revenues.
2. Record the December 31, 2018 adjusting entry.
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Requirement 1 Date Accounts and Explanation Debit Credit Sep 1 Cash 24000 Service Revenue 24000 To ...View the full answer
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Related Book For 
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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