On 20 June 2013, Parker Services received $2 400 in advance from a customer for one month's service. The journal entry to adjust the accounts at the end of June would be which of the following?
A)Debit Unearned service revenue $2 400 and credit Service revenue $2 400.
B)Debit Service revenue $1 600 and credit Unearned service revenue $1 600.
C)Debit Service revenue $800 and credit Accounts receivable $800.
D)Debit Unearned service revenue $800 and credit Service revenue $800.

Question

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The Answer of On 20 June 2013, Parker Services received $2 400 in advance from a customer for one month's service. The journal entry to adjust the accounts at the end of June would be which of the following?
A)Debit Unearned service revenue $2 400 and credit Service revenue $2 400.
B)Debit Service revenue $1 600 and credit Unearned service revenue $1 600.
C)Debit Service revenue $800 and credit Accounts receivable $800.
D)Debit Unearned service revenue $800 and credit Service revenue $800.

On 20 June 2013, Parker Services Received $2 400 in Advance