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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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