At the beginning of the year, Dapper Advertising owed customers $2,500 for unearned revenue collected in advance. During the year, Dapper received advance cash receipts of $9,400 and earned $40,000 of service revenue (exclusive of any amount earned from advance payments). At year-end, the liability for unearned revenue is $4,700 and unadjusted service revenue is $40,000. Read the requirements. ..... Requirement 1. Record the adjusting entry assuming that Dapper records the cash receipt of unearned revenue by initially crediting a liability account. Post the adjusting entry to the Unearned Revenue and Service Revenue T-accounts. Make sure to include the beginning balance and additional unearned revenue in the Unearned Revenue T-account. Begin by recording the adjusting entry assuming that Dapper records unearned revenue by initially crediting a liability account. (Record debits first, then credits. Select the explanation on the last line of the journal entry.) Date Accounts and Explanation Debit Credit