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On January 1, Biddle & Biddle, CPAs received a P9,000 cash retainer for legal services to be rendered ratably over the next 3 months. The

On January 1, Biddle & Biddle, CPAs received a P9,000 cash retainer for legal services to be rendered ratably over the next 3 months. The full amount was credited to the liability account Unearned Revenue. Assuming that the revenue is earned ratably over the 3-month period, what adjusting journal entry should be made at January 31?

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