Barry Company received full payment of $14,000 in advance for services that are 80% complete at the end of the period. The adjusting entry will
Barry Company received full payment of $14,000 in advance for services that are 80% complete at the end of the period. The adjusting entry will
a. debit Service Revenue for $11,200 and credit Unearned Revenue for $11,200.
b. debit Unearned Revenue for $11,200 and credit Service Revenue for $11,200.
c. debit Unearned Revenue for $14,000 and credit Service Revenue for $14,000.
d. debit Cash for $11,200 and credit Service Revenue for $11,200.
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Authors: Carl S. Warren, James M. Reeve, Philip E. Fess
20th Edition
0324025424, 978-0324025422
