Question
Company HOGA (which runs a soccer team. receives $5,000 for season tickets sold on 1 August 20x1.By 31 December 20x1, HOGA earned $2,000 of the
Company HOGA (which runs a soccer team. receives $5,000 for season tickets sold on 1 August 20x1.By 31 December 20x1, HOGA earned $2,000 of the revenue.The adjusting entry to be made by HOGA on 31 December 31 includes a:
credit to Unearned Revenue of $2,000.
debit to Unearned Revenue of $2,000.
debit to Service Revenue of $2,000.
credit to Prepaid Revenue of $3,000.
None of the above.
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Introduction To Financial Accounting
Authors: Charles T Horngren, Gary L Sundem
10th Edition
136122973, 978-0136122975
