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Save & Exit On May 1, 2020. Bee Advertising Company received $2,500 from a client for advertising services to be completed by January 30, 2021.

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Save & Exit On May 1, 2020. Bee Advertising Company received $2,500 from a client for advertising services to be completed by January 30, 2021. Assume the receipt was recorded as unearned revenue and that at December 31, 2020, $950 of the fees had not been earned. Prepare the December 31, 2020 year-end adjusting entry

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