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On February 1, 20x1 the Abdoll business paid Fraser $13904.05 cash to complete a renovation on their property starting in May 20x1 and ending August

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On February 1, 20x1 the Abdoll business paid Fraser $13904.05 cash to complete a renovation on their property starting in May 20x1 and ending August 31, 20x1. Both parties agreed to the work being completed in equal parts over the summer. Fraser's year-end is June 30, 20x1. Assuming the initial entry made on February 1, 20x1 by Fraser was a credit of $13904.05 to revenue, the following adjusting entry is required on June 30, 20x1: Select one: A credit of $6952.02 to unearned revenue A credit of $6952.02 to revenue A debit of $3476.01 to revenue A debit of $3476.01 to unearned revenue

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