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+ On June 1 Year 1, Jack Associates collected $48,000 cash for consulting services to be provided for one year beginning immediately. Based on this

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+ On June 1 Year 1, Jack Associates collected $48,000 cash for consulting services to be provided for one year beginning immediately. Based on this information, which of the following shows how the required adjustment on December 31, Year 1, would affect Jack's accounting equation? Assets = Liabilities Stockholders' Equity Prepaid Unearned Common Retained Cash Rent Revenue Stock Earnings (28,000) 28,000 B. 20,000 (20,000) C. (20,000) 20,000 D. 28,000 (28,000) 004252 Multiple Choice Option A 22 Option D Option B Option

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