ONLY TWO TRIES

On January 1, a customer paid X Company $24,300 in advance for cleaning services. The cleaning was going to be done once in January, once in February, once in March, and once in April. What will be the result of X Company's adjusting entry on January 31?

a $6,075 decrease in Retained Earnings on the Balance Sheet a balance of $6,075 in Deferred Revenue on the Balance Sheet a $6,075 decrease in Cash on the Balance Sheet revenue of $6,075 reported on the Income Statement a $6,075 increase in Deferred Revenue on the Balance Sheet a $6,075 increase in Cash on the Balance Sheet