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On September 1, 2012, Legal Services Associates (LSA) collected $2,400 in exchange for an agreement to provide services for a period of one year beginning

On September 1, 2012, Legal Services Associates (LSA) collected $2,400 in exchange for an agreement to provide services for a period of one year beginning immediately.

On its December 31, 2012 balance sheet LSA would report liabilities of?

A.800

B.1600

C.1200

D.2400

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