Question
The W. Brian Voss Company provides security services, and the following deposit was from a customer that fully prepaid a 6-month contract commencing on the
The W. Brian Voss Company provides security services, and the following deposit was from a customer that fully prepaid a 6-month contract commencing on the date of the deposit.The proceeds were initially entered into Voss's Unearned Revenue account.
$750.00 Date of Deposit November 1,20X1
when correcting this in the general Journal, for Dec 31 would I break it down into equal parts for the six months, and record it as service revenue of 125 and Unearned revenue of 125?
If not please help me understand how this is suppose to translate into one months Journal ( i am a visual learner)
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