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For each of the following independent situations, journalize both the initial transaction and the subsequent adjusting entry: (Record debits first, then credits. Select the explanation

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For each of the following independent situations, journalize both the initial transaction and the subsequent adjusting entry: (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (Click the icon to view the situations.) a. May 1 - business receives $6,000 for a 10 -month service contract

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