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Lars Richards, CPA, has performed $2060 of accounting services for a client but has not billed the client as of the end of the accounting
Lars Richards, CPA, has performed $2060 of accounting services for a client but has not billed the client as of the end of the accounting period. What adjusting entry must Lars make? O debit Cash and credit Unearned Revenue O debit Accounts Receivable and credit Unearned Revenue O debit Unearned Revenue and credit Service Revenue O debit Accounts Receivable and credit Service Revenue Skysong Company received a cheque for $22100 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $22100. Financial statements will be prepared on July 31. Skysong should make the following adjusting entry on July 31 O debit Unearned Rent Revenue, $3683; credit Rent Revenue, $3683. O debit Rent Revenue, $3683; credit Unearned Rent Revenue, $3683 O debit Cash, $22100; credit Rent Revenue, $22100. O debit Unearned Rent Revenue, $22100; credit Rent Revenue, $22100
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