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Total Unearned Revenue as of 12/31/20xx ; $70,000 Adjusting Entry; 70% of the unearned sales revenue was earned in 2020 what would the adjusting entry
Total Unearned Revenue as of 12/31/20xx ; $70,000
Adjusting Entry; 70% of the unearned sales revenue was earned in 2020
what would the adjusting entry look like?
Unearned Revenue 49,000 (70,000 x 70%)
Sales 49,000
is this correct?
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