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On March 30, Culture Magazine Corp received $1,500 cash in advance from various customers for 12 months of services starting April 1. Culture Magazine Corp

On March 30, Culture Magazine Corp received $1,500 cash in advance from various customers for 12 months of services starting April 1. Culture Magazine Corp has a December 31 year-end and adjusted its accounts annually. REQUIRED: a. Calculate the amount of service revenue earned at December 31. b. Prepare the adjusting journal entry required at December 31. Format B Uv A AO QO + ... o a. The amount of service revenue earned = $ b. The adjusting journal entry: GENERAL JOURNAL ACCOUNT TITLES AND DEBIT CREDIT DATE EXPLANATION

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