Question
At the beginning of the month, Marlin Corporation agreed to perform services for the subsequent three months for Catsui Corporation for $54,000 per month. Catsui
At the beginning of the month, Marlin Corporation agreed to perform services for the subsequent three months for Catsui Corporation for $54,000 per month. Catsui paid Marlin all $162,000 in advance. One month has now passed. Each month is viewed as an independent job. Which of the following would be included in the adjustment required at the end of the month?
A debit to Revenue for $54,000.
A credit to Revenue for $162,000.
A credit to Unearned Revenue for $54,000.
A debit to Unearned Revenue for $54,000.
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
