7) Boggle Co. started the month with $5,100 in unearned revenue. During the month, Company Y...
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7) Boggle Co. started the month with $5,100 in unearned revenue. During the month, Company Y completed $1,500 of services related to the unearned revenue. What is the necessary adjusting entry? Assets: Liabilities: Stockholders' Equity: Debit If this adjustment is NOT made, the following are overstated, understated, or not impacted: Revenue: Expense: Credit 7) Boggle Co. started the month with $5,100 in unearned revenue. During the month, Company Y completed $1,500 of services related to the unearned revenue. What is the necessary adjusting entry? Assets: Liabilities: Stockholders' Equity: Debit If this adjustment is NOT made, the following are overstated, understated, or not impacted: Revenue: Expense: Credit
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Adjusting entry Particulars Debit Credit Unearned revenue 1500 Service revenue 1500 To record the se... View the full answer
Related Book For
Statistical Techniques in Business and Economics
ISBN: 978-0078020520
16th edition
Authors: Douglas Lind, William Marchal
Posted Date:
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