Kibitz Fitness received $24,000 from customers on August 1, 2011. These payments were advance payments of yearly

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Kibitz Fitness received $24,000 from customers on August 1, 2011. These payments were advance payments of yearly membership dues.
Required:
At December 31, 2011, calculate what the balances in the Unearned Service Revenue and Service Revenue accounts will be.
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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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