Question: Which is correct the one in red we already know is incorrect On August 1 of Year 1 Accounting Associates (AA) collected $1,200 cash for

Which is correct the one in red we already know is incorrect

On August 1 of Year 1 Accounting Associates (AA) collected $1,200 cash for consulting services to be provided for one year beginning immediately. Based on this information, which of the following show how the required adjustment on December 31, Year 1 would affect AA's ledger accounts? Multiple Choice

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