Ea Requirements 1. Record the adjusting entry assuming that Grand records the cash receipt of unearned revenue by initially crediting a liability account. Post the adjusting entry to the Unearned Revenue and Service Revenue T-accounts. Make sure to include the beginning balance and additional unearned revenue in the Unearned Revenue T-account Record the adjusting entry assuming that Grand records the cash receipt of unearned revenue by initially crediting a revenue account. Post the adjusting entry to the Unearned Revenue and Service Revenue T-accounts. Make sure to include the beginning balance in the Uneamed Revenue T-account and the additional unearned revenue in the Service Revenue T-account. 3. Compare the ending balances of the T-accounts under both approaches. Are they the same? LLLLL Print Done Check Answer At the beginning of the year, Grand Advertising owed customers $2,800 for unearned revenue collected in advance. During the year, Grand received advance cash receipts of $8,300 and earned $30,000 of service revenue (exclusive of any amount earned from advance payments). At year-end, the liability for unearned revenue is $4,500 and unadjusted service revenue is $30,000 Read the requirements