Question
Your company is a fitness center. On December 1, 2015, a customer pays $600 for 1-year membership to the center. When you collected the cash,
Your company is a fitness center. On December 1, 2015, a customer pays $600 for 1-year membership to the center. When you collected the cash, you credited Unearned Revenue, a liability account.
The adjusting journal entry on December 31, 2015 is:
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
27th edition
978-1337272094, 1337272094, 978-1337514071, 1337514071, 978-1337899451
