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On December 1, Year 1, Jack's Snow Removal Company received $10,500 of cash in advance from a customer and promised to provide services for

On December 1, Year 1, Jack's Snow Removal Company received $10,500 of cash in advance from a customer and promised to provide services for that customer during the months of December, January, and February. How will the Year 1 year-end adjustment to recognize the partial expiration of the contract impact the financial statements model?

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