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On November 1, Giltus Advertising Company received $1,500 from Julie Bee for advertising services to be completed within the coming six months. The Cash receipt
On November 1, Giltus Advertising Company received $1,500 from Julie Bee for advertising services to be completed within the coming six months. The Cash receipt was recorded as unearned fees revenue. The adjusting entry on December 31 would include: Select one: a. A credit to Unearned Fees for $1,500. b. A credit to Earned Fees for $1,000. c. A debit to Earned Fees for $1,000. d. A debit to Unearned Fees for $500.
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