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On January 1, a customer paid X Company $27,300 in advance for cleaning services. The cleaning was going to be done once in January, once
On January 1, a customer paid X Company $27,300 in advance for cleaning services. The cleaning was going to be done once in January, once in February, once in March, and once in April. What will be the result of X Company's adjusting entry on January 31? a balance of $6,825 in Deferred Revenue on the Balance Sheet a $6,825 decrease in Retained Earnings on the Balance Sheet a $6,825 increase in Deferred Revenue on the Balance Sheet a $6,825 increase in Cash on the Balance Sheet a $6,825 decrease in Cash on the Balance Sheet revenue of $6,825 reported on the Income Statement
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