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wg that Modish records the cash receipt of unearned revenue by initially crediting a liability account. Post the adjusting entry the Unearned Revenue and Service

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wg that Modish records the cash receipt of unearned revenue by initially crediting a liability account. Post the adjusting entry the Unearned Revenue and Service Revenue T-accounts. Make sure to include she beginning balance and additional unearned revenue in the Unearned Revenue T-account. Record the adjusting entry assuming that Modish records the cash receipt of unearned revenue by initially crediting a revenue account. Post the adjusting entry to the Unearned Revenue and Service Revenue T-accounts. Make sure to include the beginning balance in the Unearned Revenue T-account and the additional unearned revenue in the Service Revenue T-account 3. Compare the ending balances of the T-accounts under both approaches. Are they the same? roblems Group A -3-33A Journalizing adjusting entries and subsequent journal entries Laughter Landscaping has collected the following data for the December 31 adjusting entries: a. Each Friday, Laughter pays employees for the current week's work. The amount of the weekly payroll is $8,000 for a five-day workweek. This year, December 31 falls on a Tuesday. Laughter will pay its employees on January 3. b. On January 1 of the current year, Laughter purchases an insurance policy that covers two years, $8,000. 10. During the year, Laughte c. The beginning balance of Office Supplies was $4,300. During the vear. I purchased office supplies for $5,000, and at December 31 the office suppli hand total $1,500 d. During December, Laughter designed a landscape plan and the client prepaid $6,500. Laughter recorded this amount as Unearned Revenue. The job will take several months to complete, and Laughter estimates that the company has earned 40% of the total revenue during the current year. e. At December 31, Laughter had earned $3,000 for landscape services completed it Turnkey Appliances. Turnkey has stated that it will pay Laughter on January 10, f. Depreciation for the current year includes Equipment, $3,000; and Trucks, S4, g. Laughter has incurred $250 of interest expense on a $550 interest payment a January 15. Requirements 1. Journalize the adjusting entry needed on December 31 for each of items affecting Laughter Landscaping. Assume Laughter records ad only at the end of the year. 2. Journalize the subsequent journal entries for adjusting entries , --34A Journalizing adjusting entrion 1 I for each of the previous records adjusting entries of adjusting entries a, d, and g. on financia

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