On September 1, Alex Company received $3,000 in advance for 12 months of service to be...
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On September 1, Alex Company received $3,000 in advance for 12 months of service to be provided, with the service period beginning on September 1. This $3.000 was recorded as Unearned Service Revenue on September 1. The service is provided evenly throughout the year. Which ONE of the following will be included in the ADJUSTING ENTRY necessary on December 31? O A DEBIT to Cash for $1,000. O A CREDIT to Service Revenue for $1,000. O A DEBIT to Unearned Service Revenue for $4,00. O A CREDIT to Service Revenue for $3,000. A CREDIT to Unearned Service Revenue for $1,000. On September 1, Alex Company received $3,000 in advance for 12 months of service to be provided, with the service period beginning on September 1. This $3.000 was recorded as Unearned Service Revenue on September 1. The service is provided evenly throughout the year. Which ONE of the following will be included in the ADJUSTING ENTRY necessary on December 31? O A DEBIT to Cash for $1,000. O A CREDIT to Service Revenue for $1,000. O A DEBIT to Unearned Service Revenue for $4,00. O A CREDIT to Service Revenue for $3,000. A CREDIT to Unearned Service Revenue for $1,000.
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Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
Posted Date:
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