Question
On December 1, 2008, ABC received $6,000 in advance for services to be performed over the next 12 months. The adjusting entry on December 31,
On December 1, 2008, ABC received $6,000 in advance for services to be performed over the next 12 months. The adjusting entry on December 31, 2008 is a:
a) debit to Cash and a credit to Unearned Revenue
b) debit to Fee Revenue and a credit to Unearned Revenue
c) debit to Unearned Revenue and a credit to Cash
d) debit to Unearned Revenue and a credit to Fee Revenue
None of the above
Refer to the previous question. The amount of the adjusting entry is:
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Financial Accounting Reporting And Analysis
Authors: Jennifer Maynard
2nd Edition
0198745311, 9780198745310
