18 books At the beginning of the year, Modish Advertising owed customers $2.100 for unearned revenue collected in advance. During the year, Modish received advance cash simtari receipts of 56,100 and earned $20,000 of service revenue (exclusive of any amount earned from advance payments). At year-end, the liability for unearned revenue is 31 (book $3,100 and unadjusted service revenue is $20,000 Read the requirements Requirement 1. Record the adjusting entry assuming that Modish records the cash receipt of unearned revenue by initially crediting a liability account. Post the adjusting entry to the Uneared Revenue and Service Revenue T-accounts. Make sure to include the beginning balance and additional unearned revenue in the Uneamed Revenue T-account TACCT 2500 Begin by recording the adjusting entry assuming that Modish records unearned revenue by initially crediting a liability account. (Record debits first, then credits. Select the explanation on the last line of the journal entry.) Debit Accounts and Explanation Date Credit Requirements Choose from any list or enterar 1. Record the adjusting entry assuring that Modish records the cash receipt of uneamed revenue by initially crediting a liability account. Post the adjusting entry to the Unearned Revenue and Service Revenue T-accounts. Make sure to include the beginning balance and additional unearned revenue in the Unearned Revenue T-account 2. Record the adjusting entry assuming that Modish records the cash receipt of uneared revenue by initially crediting a revenue account. Post the adjusting entry to the Uneamed Revenue and Service Revenue T-accounts. Make sure to include the beginning balance in the Uneamed Revenue T-account and the additional unearned revenue in the Service Revenue T-account 3. Compare the ending balances of the T-accounts under both approaches. Are they the same?