Question: On October 1 2016 Amazing Landscaping collected 30 000 in advance

On October 1, 2016, Amazing Landscaping collected $30,000 in advance from customers for landscaping services. The service revenue will be earned monthly over the six-month period ending March 31, 2017.
Requirements
1. Journalize the entry on October 1 by using the alternative treatment of deferred revenues.
2. Record the December 31, 2016 adjusting entry.

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  • CreatedJune 12, 2015
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