Marian Company collected $8,000 cash in advance during March for services to be performed in April and May. At the end of April an adjusting entry was made to debit Unearned Revenue and credit Service Revenue for $4,200. The ending balance in the Unearned Revenue account was $3,800.
A. What entry was made during March when the original $8,000 was collected?
B. How much will Marian report on its balance sheet as a liability at the end of April as a result of the transactions?

Question

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The Answer of Marian Company collected $8,000 cash in advance during March for services to be performed in April and May. At the end of April an adjusting entry was made to debit Unearned Revenue and credit Service Revenue for $4,200. The ending balance in the Unearned Revenue account was $3,800.
A. What entry was made during March when the original $8,000 was collected?
B. How much will Marian report on its balance sheet as a liability at the end of April as a result of the transactions?

Marian Company Collected $8,000 Cash in Advance During March for Services