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It is December 31 and you need to prepare adjusting entries for the following transactions: earned $1200 of the service revenue collected in advance on
It is December 31 and you need to prepare adjusting entries for the following transactions: earned $1200 of the service revenue collected in advance on December 5. The administrative assistant worked the last 2 weeks in December and is owed $885 in wages to be paid January 5 (ignore payroll taxes). Record bad debt expense for estimated uncollectible accounts, $3000.
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