t the beginning of the year, Modish Advertising owed customers $2,100 for unearned revenue collected in advance. During the year, Modish received advance cash receiptss of $6,100 and earned $20,000 of service revenue (exclusive of any amount earned from advance payments). At year-end, the liability for uneamed revenue is S ,100 and unadjusted service revenue i $20,000. Read the requirements Requirement 1. Record the adjusting entry assuming that Modish records the cash receipt of unearned revenue by initially crediting a liability account. Post the adjusting entry to the Uneamed Revenue and Service Revenue T-accounts. Make sure to include the beginning balance and additional uneamed revenue the Uneamed Revenue T-account. Begin by recording the adjusting entry assuming that Modish records unearned revenue by initially crediting a liability account. (Record debits first, then credits. Select the explanation on the last line of the journal entry. Accounts and Explanation Credit Date Debit Uneamed Revenue 5,100 Service Revenue 5.100 To record service revenue that was collected in advance. Post the adjusting entry to the Unearned Revenue and Service Revenue T-accounts. Make sure to include the beginning balance and additional unearned revenue in the Unearned Revenue T-account. (Use an "Unadj. bal." reference to show the balance of each account prior to any adjustments or cash receipts. Use a "Bal." posting reference to show the ending balance of each account.) Unearned Revenue 2100 Unadj. bal. 1000 Cash collected for future services 3100 Bal Service Revenue