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Swify Corporation had the following selected transactions in the month of October. The company adjusts its accounts monthly. At the end of October, Swifty had
Swify Corporation had the following selected transactions in the month of October. The company adjusts its accounts monthly. At the end of October, Swifty had earned service revenue of $7000 that it had not yet billed. The company billed the client for this amount on November 15. The client paid half of the balance owing on November 30 with balance due in six months. Prepare the adjusting journal entry required at October 31
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