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Bill Justice is a lawyer who requires that his clients pay him in advance of legal services rendered. Bill routinely credits Service Revenue when his

Bill Justice is a lawyer who requires that his clients pay him in advance of legal services rendered. Bill routinely credits Service Revenue when his clients pay him in advance. In June Bill collected $25000 in advance fees and completed 60% of the work related to these fees. What adjusting entry is required by Bill's firm at the end of June?

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