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Chapter 5 Pages (191-192) Problems 4. Howard Sims is a lawyer who just received a $5,000 cash retainer on October 1, for work to
Chapter 5 Pages (191-192) Problems 4. Howard Sims is a lawyer who just received a $5,000 cash retainer on October 1", for work to be performed evenly over the next 5 months. a. What is the entry Howard Sims would make on October 1"? b. What is the adjusting entry needed on December 1st, for Howard Sims? C. What is the balance of unearned revenue on December 31"? d. What type of account is unearned revenue and which statement is it reported on? e. What is the balance of service revenue on December 31"?
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Accounting Texts and Cases
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
13th edition
1259097129, 978-0073379593, 007337959X, 978-1259097126
