Question
On December 1, 2020,SlimCorporation received $30,000 cash from customers as two-year membership dues to its gym facility. The service period started December 1, 2020.SlimCorporation earns
On December 1, 2020,SlimCorporation received $30,000 cash from customers as two-year membership dues to its gym facility. The service period started December 1, 2020.SlimCorporation earns the revenue from the membership fees evenly each month. The company records adjusting entries only at year end. 9.What balance is shown forService RevenueonSlimCorporationsfiscal year2021Income Statement? a.$1,250 b.$13,750 c.$15,000 d.$28,750 e.$30,000 10.What balance is shown forUnearned RevenueonSlimCorporationsDecember 31,2021Balance Sheet? a.$1,250 b.$13,750 c.$15,000 d.$28,750 e.$30,000
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