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On October 11, your firm receives a $7,500 down-payment toward a $15,000 video your firm will produce, and you book it in Unearned Revenue .

On October 11, your firm receives a $7,500 down-payment toward a $15,000 video your firm will produce, and you book it in Unearned Revenue. If, at year end, 20% of the work is completed, whatadjusting entry will you record?

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