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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 37
Unearned Revenue
Jasper's unadjusted trial balance reports Unearned Client Revenue of $4,000 and Client Revenue Earned of $30,000. An examination of client records reveals that $2,500 of previously unearned revenue has now been earned.
a. Prepare the necessary adjusting entry pertaining to these accounts.
b. At what amount will Client Revenue Earned be reported in Jasper's income statement?
Jasper's unadjusted trial balance reports Unearned Client Revenue of $4,000 and Client Revenue Earned of $30,000. An examination of client records reveals that $2,500 of previously unearned revenue has now been earned.
a. Prepare the necessary adjusting entry pertaining to these accounts.
b. At what amount will Client Revenue Earned be reported in Jasper's income statement?
Explanation
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Adjusting entries are passed to adjust a...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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