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Reinking's Law firm received an advance in the amount of $6,000 on 12/1 for future legal services to be provided. As of 12/31, $3,530 in
Reinking's Law firm received an advance in the amount of $6,000 on 12/1 for future legal services to be provided. As of 12/31, $3,530 in legal services had been provided, resulting in the adjusting journal entry shown below. What is the ending balance in the Deferred Revenue Account as 12/31 after posting the adjusting journal entry to the general ledger?
Adjusting Journal entry 12/31
| Date | Accounts | Debit | Credit |
| 12/31 | Deferred Revenue | 3,530 |
|
|
| Service Revenue |
| 3,530 |
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