amed Revenues Help Save & Exit Submit Check my work QS 3-11 Adjusting for unearned (deferred) revenues LO P2 For each separate case below, follow the three-step process for adjusting the uneared revenue liability account at December 31 Step t Determine what the current account balance equals Step 2. Determine what the current account balance should equal Step 3. Record the December 31 adjusting entry to get from step 1 to step 2 Assume no other adjusting entries are made during the year a. Ino Co. receives $10,400 cash in advance for four months of evenly planned legal services beginning on October 1. Tao records it by debiting Cash and crediting Uneared Revenue both for $10.400. It is now December 31, and Tno has provided legal services as planned. What adjusting entry should To make to account for the work performed from October 1 through December 31? Uneamed revenue Step 1 Determine what the current account balance equals Step 2 Determine what the current account balance should equal Step Record the December 1 adjusting entry to get from step to sep 2