On September 1, Patterson Maintenance Company contracted to provide monthly maintenance services for the next six months at a rate of $2,900 per month. The client paid Patterson $ 17,400 on September 1. Assuming Patterson records deferred revenues using the alternative treatment, what would be the entry on September 1?

Answer rating: 100% (QA)

Debit Cash and credit Service Revenue for 17400 When cash is collected in advance it is typ... View the full answer