Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On August 1 of the current year, Loizzi Company received $12,000 for legal services to be performed evenly throughout the next six months. The adjusting

On August 1 of the current year, Loizzi Company received $12,000 for legal services to be performed evenly throughout the next six months. The adjusting entry on December 31 of the current year would include a: O A) O B) OC) OD) Credit to Service Revenue of $10,000 Debit to Service Revenue of $2,000 Credit to Unearned Service Revenue of $10,000 Debit to Unearned Service Revenue of $2,000
image text in transcribed
On August 1 of the current year, Loizzi Company received $12,000 for legal services to be performed evenly throughout the next six months. The adjusting entry on December 31 of the current year would include a: A) Credit to Service Revenue of $10,000 B) Debit to Service Revenue of $2,000 C) Credit to Unearned Service Revenue of $10,000 D) Debit to Unearned Service Revenue of $2,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The ISO 14000 EMS Audit Handbook

Authors: Greg Johnson

1st Edition

1574440691, 978-1574440690

More Books

Students also viewed these Accounting questions

Question

List the advantages and disadvantages of the pay programs. page 505

Answered: 1 week ago