y UWD USD $2,000 IU ned revenue collected in advance. During the year, Spruce received advance cash receipts of $5,800 and earned $15,000 of ser nts). At year-end, the liability for uneamed revenue is $2,600 and unadjusted service revenue is $15,000. ng entry assuming that Spruce ce and additional unearned rev The Unearned Revenue and Service Requirements try assuming that Spruce recor on on the last line of the journal en Accounts and Explanation 1. Record the adjusting entry assuming that Spruce records the cash receipt of unearned revenue by initially crediting a liability account. 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. 2. Record the adjusting entry assuming that Spruce 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 uneared revenue in the Service Revenue T-account 3. Compare the ending balances of the T-accounts under both approaches. Are they the same? Print Done er any number in the input fields and then click Check Answer Clear All Check 30 tv og 57 FA A-32 similar to) the beginning of the year, Bruce Advertising owed customers 12.500 for named revenue collected in advance. During the year, Spruce received advance cash receipts of $5.800 and earned $15.000 of service revenue sve of any mounted from advance payments). Ayew end, the ability for uncemed revenue is $2,000 and unadjusted service revenue is $15,000 Requirement. Record the adjusting entry suming that Spruce records the cash receipt of uneared revenue by initially crediting alability account. Post the adjusting entry to the Uneamed Revenue and Senicevere accounts. More sure to include the beginning balance and additional untamed revenue in the Uneamed Revenue Taccount Begin by recording the dating entry wwing that Spruce records earned revenue by Intly creating a laby account. (Record debits for the credits Select the explanation on the last time of the journal entry) De Account and Explotion Deb Crede Chrome without Check Check Araw CA S s 5 4 6 7 5 9 8 3 2 O P Y R E W T L J H K G S A F D > B N M Z X C