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1) On May 1, 2020. Bee Advertising Company received $2,500 from Julie Cee for advertising services to be completed by April 30, 2021. Assume the
1) On May 1, 2020. Bee Advertising Company received $2,500 from Julie Cee for advertising services to be completed by April 30, 2021. Assume the receipt was recorded as unearned revenue and that at December 31, 2020, $1,000 of the fees had been earned. The adjusting entry prepared by Bee on December 31, 2020, should include A) A credit to Unearned Revenue for $500 B) A debit to Revenue for $1,000 C) A debit to Revenue for $500 D) A credit to Revenue for $1,000 E) A debit to Unearned Revenue for $500
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