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Cash received in advance from clients for legal services is recorded in Unearned Revenue. The end-of-period adjusting entry to record the portion of revenue that
Cash received in advance from clients for legal services is recorded in Unearned Revenue. The end-of-period adjusting entry to record the portion of revenue that has been earned is: Multiple Choice Debit Cash and credit Legal Revenue. Debit Cash and credit Unearned Revenue. Debat Unearned Revenue and credit Legal Revenue. Debit Legal Revenue and credit Unearned Revenue
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
