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On December 1, Simpson Marketing Company received $5,700 from a customer for a 2-month marketing plan to be completed January 31 of the following year.
On December 1, Simpson Marketing Company received $5,700 from a customer for a 2-month marketing plan to be completed January 31 of the following year. The cash receipt was recorded as unearned revenue. The adjusting entry for the year ended December 31 would include
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Accounting The Basis For Business Decisions
Authors: Robert F. Meigs, Jan R. Williams, Susan F Haka, Mark S. Bettner
International 11th Edition
007115809X, 978-0071158091
