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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Cost Estimating
Authors: Rodney D. Stewart
2nd Edition
0471857076, 978-0471857075
