Question
On October 1, 2012, ABC Company collected $10,000 for consulting services to be performed from October 1, 2012 to April 31, 2013. The Company credited
"On October 1, 2012, ABC Company collected $10,000 for consulting services to be performed from October 1, 2012 to April 31, 2013. The Company credited the revenue account when paid."
What is the adjusting entry for this at december 31 2012?
Would you debit unearned consulting revenue and credit consulting revenue?
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Accounting And Finance For Non Finance Managers
Authors: Jai Kumar Batra
1st Edition
9352806964, 978-9352806966
