Question
On June 1 of Year 1 Zoe Company collected $1,800 cash for medical services to be provided for one year beginning immediately. The company's fiscal
On June 1 of Year 1 Zoe Company collected $1,800 cash for medical services to be provided for one year beginning immediately. The company's fiscal closing date is December 31. Based on this information the amount of unearned revenue and service revenue shown on the Year 1 financial statements would be
A
| Unearned Revenue | Service Revenue |
| zero | 1,800 |
B
| Unearned Revenue | Service Revenue |
| 1,800 | zero |
C.
| Unearned Revenue | Service Revenue |
| $750 | $1,050 |
D.
| Unearned Revenue | Service Revenue |
| $1,050 | $750 |
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Financial Accounting Version 3.1
Authors: Joe Ben Hoyle, C.J. Skender, Leah Kratz
1st Edition
1453339442, 9781453339442
