a) What is the journal entry to record deferred or unearned revenue? What is the total amount
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Question:
a) What is the journal entry to record deferred or unearned revenue? What is the total amount of unearned revenue that is deferred from being recognized in income for FY2015?
b) What is the journal entry when the revenue is earned? What is the total amount of unearned revenue that is recognized for FY2015?
c) Discuss how unearned revenue accounts could potentially be used for earnings management.
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