On June 30, a local high school approached Lenova Digital for help. They asked Sarah to visit the school and provide them with advice on which products would be best for their students to use. They paid $2,500 in advance for Sarah to consult with them and provide a report outlining the available products. The business initially recorded unearned revenue on June 30 when the cash was received. Sarah visited the school on July 31. An adjustment needs to be made to recognise the income earned. Round calculations to the nearest whole dollar.

Answer rating: 100% (QA)

When the business initially recorded unearned revenue on June 30 it means they recognized the 2500 a... View the full answer