Question
Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The companys unadjusted trial balance at March 31
Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The companys unadjusted trial balance at March 31 is as follows: Debit Credit Cash $ 11,010 Accounts Receivable 9,710 Supplies 1,390 Prepaid Insurance 3,480 Equipment 31,200 Accumulated Depreciation: Equipment $ 12,480 Unearned Service Revenue 6,950 Capital Stock 5,650 Retained Earnings 23,850 Dividends 1,650 Service Revenue Earned 19,990 Salaries Expense 8,250 Utilities Expense 480 Rent Expense 1,750 Totals $ 68,920 $ 68,920 According to service contracts, $4,900 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
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