Get Fit Now gains a client who prepays $540 for a package of six physical training sessions.

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Get Fit Now gains a client who prepays $540 for a package of six physical training sessions. Get Fit Now collects the $540 in advance and will provide the training later.

After four training sessions, what should Get Fit Now report on its income statement assuming it uses the accrual basis accounting method?

a. Service revenue of $360

b. Service revenue of $540

c. Unearned service revenue of $360

d. Cash of $180

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Related Book For answer-question

Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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Question Posted: Feb 02, 2024 05:00 AM

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Get Fit Now gains a client who prepays $540 for a package of six physical training sessions.

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Horngrens Financial And Managerial Accounting The Managerial Chapters

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