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1. James Co. was paid $4,500 in advance on the first day of the month for 6 months of accounting services to be performed regularly

1. James Co. was paid $4,500 in advance on the first day of the month for 6 months of accounting services to be performed regularly throughout the 6-month period. At the end of the month, what adjusting entry must be made relating to this transaction?

a. Unearned Revenue $750

Revenue $750

b. Unearned Revenue $3,750

Revenue $3,750

c. Revenue $3,750

Unearned Revenue $3,750

d. Revenue $750

Unearned Revenue $750

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