Question
On January 1, 2000 CleanCo credited Revenue for a $4,000 prepayment it received from a customer for maintenance services to be provided over the next
On January 1, 2000 CleanCo credited Revenue for a $4,000 prepayment it received from a customer for maintenance services to be provided over the next two years.
An adjusting entry is necessary as of December 31, 2000 to properly reflect:
A) the ledger Cash account balance
B) deferred revenue
C) correction of the expense accrual
D) accrual of expense
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Financial Accounting
Authors: W Steve Albrecht, Earl K Stice
11th Edition
0538746955, 9780538746953
