Earlier in the year, Alpha received $10,000 cash from a customer for services to be performed in
Fantastic news! We've Found the answer you've been seeking!
Question:
Earlier in the year, Alpha received $10,000 cash from a customer for services to be performed in the future. The entire amount was recorded as a liability. By the end of the year, $6,000 of the services had not yet been performed. The required adjusting journal entry to be recorded on December 31 (end of year) is
Debit Unearned Service Revenue 6,000, credit Service Revenue 6,000
Debit Service Revenue 4,000, credit Unearned Service Revenue 4,000
The correct answer is not listed.
Debit Service Revenue 6,000, credit Unearned Service Revenue 6,000
Debit Unearned Service Revenue 4,000, credit Service Revenue 4,000
Expert Answer:
The detailed answer for the above question is provided below The correct adjusting journal entry is ... View the full answer
Related Book For 
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Posted Date:
