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Ace Accounting received $2,000 from a client in December, as payment in advance for preparation of the client's tax return during the following January. As

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Ace Accounting received $2,000 from a client in December, as payment in advance for preparation of the client's tax return during the following January. As a result, Ace's December financial statements will show $2,000 of: Service revenue Accounts receivable Prepaid assets Unearned revenue

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