Wave Inn is a resort located in Canada. During December 2019, Spin Jammers held its annual conference
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Question:
- Wave Inn is a resort located in Canada. During December 2019, Spin Jammers held its annual conference at the resort. The charges related to the conference total $360,000, of which 25% has been paid by Spin Jammers. When Wave Inn makes the appropriate adjusting entry, which of the following is part of the adjustment made on December 31 , 2019 ?
- a. Debit Cash $270,000.
- b. Credit revenue $270,000.
- c. Credit Cash $270,000.
- d. Two of these choices are correct.
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