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2. Duddingston Company uses accrual accounting and issues monthly financial statements. On October 1, Duddingston receives $500 cash from a customer for services that will
2. Duddingston Company uses accrual accounting and issues monthly financial statements. On October 1, Duddingston receives $500 cash from a customer for services that will be provided at a later date. Which item below shows Duddingston's required entry on October 1? A) Cash 500 Unearned Revenue 500 B) Cash 500 Revenue 500 C) Prepaid Consulting Cash 500 500 D) Cash 500 Prepaid Consulting 500
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