Question
Griffin Insurance Company sold a policy that begins on October 1, 20X2 and goes through September 30, 20X3. Cash of $1500 was received on September
Griffin Insurance Company sold a policy that begins on October 1, 20X2 and goes through September 30, 20X3. Cash of $1500 was received on September 29, 20X2 and was recorded as unearned revenue. The entry required at year-end to correctly state unearned revenue account would be ________. Assume no monthly adjusting entries were recorded.
| Unearned Revenue | 1500.00 | |
| Revenue | 1500.00 |
| Cash | 1500.00 | ||
| Revenue | 375.00 | ||
| Unearned Revenue | 1125.00 |
| Revenue | 375.00 |
| Unearned Revenue | 375.00 |
| Unearned Revenue | 375.00 | |
| Revenue | 375.00 |
| Unearned Revenue | 1500.00 | |
| Revenue | 1500.00 |
| Cash | 1500.00 | ||
| Revenue | 375.00 | ||
| Unearned Revenue | 1125.00 |
| Revenue | 375.00 |
| Unearned Revenue | 375.00 |
| Unearned Revenue | 375.00 | |
| Revenue | 375.00 |
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Accounting Information Systems
Authors: George H Bodnar, William S Hopwood
10th Edition
013609712X, 978-0136097129
