Irvine Pest Control signed a $2,100-per-month contract on November 1, 2009, to provide pest control services to
Question:
Required:
1. Prepare Irvine's journal entry to record the $6,300 cash receipt.
2. Prepare Irvine's adjusting entry at December 31, 2009.
3. How would the advance payment be reported in Irvine Pest Control's December 31, 2009, balance sheet? How would the advance payment be reported in Garden Grove Properties' December 31, 2009, balance sheet?
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1 Cash 2100 3 months 6300 Unearned Sales Revenue 6300 2 Unearned Sales Revenue 4200 ...View the full answer
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Related Book For 
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
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