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Recording Deferred Revenue and Year-End Adjustment On January 1, 2020, Colo Inc. contracts with a customer to provide services in March 2020 for $4,500. The
Recording Deferred Revenue and Year-End Adjustment On January 1, 2020, Colo Inc. contracts with a customer to provide services in March 2020 for $4,500. The customer paid the full contract price on January 1, 2020. a Record the entry for the receipt of cash on January 1, 2020, recording the full amount as a deferred revenue. b. Record the required adjusting entry on March 31, 2020. Ref. General journal Account Name Dr. Cr. o 0 = 0 Recording Deferred Revenue and Year-End Adjustment On January 1, 2020, Cola Inc. contracts with a customer to provide services in March 2020 for $4,500. The customer paid the full contract price on January 1, 2020 a. Record the entry for the receipt of cash on January 1, 2020, recording the full amount as a deferred revenue. b. Record the required adjusting entry on March 31, 2020. Ref. General Journal Account Name Dr. Cr. CODO 0000
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Managerial Accounting Working Papers
Authors: John G. Helmkamp
2nd Edition
0471514292, 978-0471514299
