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 decmember 31, Year 1, would affect Jack's Balance sheet?

2 E. 2.00 HE Assets Prepaid Cash Rent Balance Sheet Liabilities + Unearned Revenue (28,000) 20,000 (20,000) 28,000 A. B. C. D. Stockholders' Equity Common Retained Stock Earnings 28,000 (20,000) 20,000 (28,000) Multiple Choice Optionc Option A Option D Option B