On October 1, Year 1, Josh Smith, attorney, accepted a $10,800 cash advance from his client, James
Question:
On October 1, Year 1, Josh Smith, attorney, accepted a $10,800 cash advance from his client, James Company, for services to be performed over the next six months.
Required
a. Record the deferral and the related December 31, Year 1, adjustment for Josh Smith in an accounting equation.
b. Record the deferral and the related December 31, Year 1, adjustment for James Company in an accounting equation.
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Related Book For 
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
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