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26) Newell Company received $1,000 in advance for services to be provided in the future. By the end of this month, $300 worth of these
26) Newell Company received $1,000 in advance for services to be provided in the future. By the end of this month, $300 worth of these services had been provided. What is the correct way to record an adjusting entry for the $300 of services provided this month into the T accounts? ) a) Cash Deferred Revenue 300 300 b) Cash Service Revenue 300 300 c c) Deferred Revenue Service Revenue 300 300 d) Deferred Revenue Service Revenue
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