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Recording Deferred Revenue and Year-End Adjustment On january 1, Colo Inc contracts with a customer to provide services in March for 54,500 . The customer
Recording Deferred Revenue and Year-End Adjustment On january 1, Colo Inc contracts with a customer to provide services in March for 54,500 . The customer paid the full contract price on january 1. a. Record the entry for the receipt of cash on January 1. recording the full amount as a deferred revenue. b. Record the required adjusting entry on March 31
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