E3A-2 At the beginning of the year, Laser Printing Company owed customers $2,750 for unearned service collected in advance. During the year. Laser Printing received advance cash receipts of $7,000. At year end, the liability for unearned revenue is $3,700. Required 1. Assume that Laser Printing records unearned renues by initially crediting a liability account. Open T-accounts for Unearned Service Revenue and Service Revenue, and place the beginning balance in Unearned Service Revenue. Journalize the cash collection and adjusting entries, and post their dollar amounts. As references in the T-accounts, denote a balance by Bal., a cash receipt by CR, and an adjustment by Adj. 2. Assume that Laser Printing records unearned revenues by initially crediting a revenue accoimt. Open T-accounts for Unearned Serxice Revenue and Service Revenue, and place the beginning balance in Service Revenue. Journalize the cash collection and adjusting entries, and post their dollar amounts. As references in the T-accounts, denote a balance by Bal.. a cash receipt by CR, and an adjustment by Adj. 3. Compare the ending balances in the two accounts.