$1,000 of cash was received in advance of performing services. By the end of the period,...

 

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$1,000 of cash was received in advance of performing services. By the end of the period, $300 had not yet been earned. (The Unearned revenue account was increased at the time of the initial cash receipt.) Demonstrate the required adjusting journal entry by selecting from the choices below. (Check all that apply.) Service revenue would be credited for $300. O Unearned revenue would be debited for $300. Unearned revenue would be debited for $700. Accounts receivable would be debited for $700. Service revenue would be credited for $700. $1,000 of cash was received in advance of performing services. By the end of the period, $300 had not yet been earned. (The Unearned revenue account was increased at the time of the initial cash receipt.) Demonstrate the required adjusting journal entry by selecting from the choices below. (Check all that apply.) Service revenue would be credited for $300. O Unearned revenue would be debited for $300. Unearned revenue would be debited for $700. Accounts receivable would be debited for $700. Service revenue would be credited for $700.

Answer rating: 100% (QA)

Correct options are unearned revenue would be debite... View the full answer