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At the beginning of 2019, Pixel Film Corp. had a balance of $23,000 in its Deferred Demolition Revenue account. During 2019, Pixel Film Corp.

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At the beginning of 2019, Pixel Film Corp. had a balance of $23,000 in its Deferred Demolition Revenue account. During 2019, Pixel Film Corp. received additional cash prepayments totaling $156,800 by customers for demolition jobs to be completed later. The cash prepayments were correctly accounted for with an increase in Deferred Demolition Revenue. As of the company's year end of December 31, 2019, Pixel had completed $143,500 of the prepaid contracts. Which of the following is the journal entry Pixel recorded on December 31, 2019? Dr Demolition Revenue 36,300 Cr Deferred Demolition Revenue 36,300 Dr Deferred Demolition Revenue 36,300 Cr Demolition Revenue 36,300 Dr Demolition Revenue 23,000 Dr Cash 120,500 Cr Deferred Demolition Revenue 143,500 Dr Deferred Demolition Revenue 143,500 Cr Accounts Receivable 23,000 Cr Demolition Revenue 120,500 Dr Deferred Demolition Revenue 143,500 Cr Demolition Revenue 143,500

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