Unearned Revenue A new gym begins business in November, offering a special for its membership plan of one year for $240. During November, 12 people sign up for the plan starting December 1; during December, 20 people sign up for the plan starting December 15.

a. Calculate the amount of the unearned revenue at year-end on December 31.

b. Journalize the adjusting entry to record the revenue

Answer rating: 100% (QA)

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