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A law firm received $9,000 cash for legal services to be rendered in three months. The full amount was credited to the liability account
A law firm received $9,000 cash for legal services to be rendered in three months. The full amount was credited to the liability account Unearned Service Revenue. If the legal services have been rendered at the end of the accounting period the adjusting entry in the first month will be Debit Unearned Rent Revenue, $3000; Credit Rent Revenue, $3000. Debit Rent Revenue, $3000; * Credit Unearned Rent Revenue, $3000. x
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