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For each separate case, record an adjusting entry (if necessary). a. Lonzo Company receives $5,400 cash in advance for six months of recycling services on

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For each separate case, record an adjusting entry (if necessary). a. Lonzo Company receives $5,400 cash in advance for six months of recycling services on September 1 and records it by debiting Cash and crediting Unearned Revenue for $5,400. Lonzo provides recycling services monthly as promised. b. On October 20, Milwaukee Bucks sold a 10 game ticket package for $360 and recorded Unearned Revenue. By December 31, 4 of the 10 games had been played. Record the December 31 year-end adjusting entry that the Bucks record for the 40% of revenue earned on the $360 ticket package. 45:52 Prepare the December 31 year-end entry that companies record to adjust the Revenue and the Unearned Revenue accounts. View transaction list Journal entry worksheet 1 2 Record the revenue earned from the service provided for 4 months of 6 months contracted

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