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Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The company's unadjusted trial balance at March 31
Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The company's unadjusted trial balance at March 31 is as follows: Credit Debit $ 10,920 9,620 1,300 3,120 26,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation: Equipment Unearned Service Revenue Capital Stock Retained Earnings Dividends Service Revenue Earned Salaries Expense Utilities Expense Rent Expense Totals $ 10,400 6,500 5,200 23,400 1,560 16,510 7,800 390 1,300 $ 62,010 $ 62,010 According to service contracts, $4,810 of the Unearned Service Revenue has been earned in March. The amount of Service Revenue Earned to be reported in the March income statement is: Multiple Choice $21,320 O $11,700 $20,410 O O $16,510
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