14 QS 3-14 Accrued revenues adjustments LO P1 For each separate case below, follow the three-step process for adjusting the accrued revenue account at December 31 1 points Step 1: Determine what the current account balance equals Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 Skipped Assume no other adjusting entries are made during the year eBook a. At year-end, the Krug Company has completed services of $20,000 for a client, but the client has not yet been billed for those services Accounts receivable Hint Step 1: Determine what the current account balance equals. Step 2 Determine what the current account balance should equal. Print Step 3 Record the December 31 adjusting entry to get from step 1 to step 2 References b. At vear-end, the company has earned, but not yet recorded, $430 of interest earned from its investments in qovernment bonds. Interest receivable Step 1: Determine what the current account balance equals. Step 2 Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. A naintinn.comnany.collects fees when inhe are eomnlete The weork saihore iob war hid at $1.390 har for oso CUEtoma boon c. A painting company collects fees when jobs are complete.. The work for one customer, whose job was bid at $1,380, has been completed, but the customer has not yet been billed. Accounts receivable Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2