Question
On January 1, 20X1 CleanCo I did revenue for a $4000 prepayment it received from a customer for maintenance services to be provided over the
On January 1, 20X1 CleanCo I did revenue for a $4000 prepayment it received from a customer for maintenance services to be provided over the next two years.
And adjusting entry is necessary as of December 31 20x1 to properly reflect .....
A. The ledger cash account balance
B. Deferred revenue
C. Correction of the expense of accrual
D. Accrual of expense
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Advanced Financial Accounting An International Approach
Authors: Jagdish Kothari, Elisabetta Barone
1st Edition
0273712748, 978-0273712749
