On June 1, 2020, Destiny Ltd. received $3,600 for services to be performed evenly over the next twelve months. The adjusting entry on December 31, 2020, would include a:
A) debit to Unearned Service Revenue for $2,100
B) debit to Service Revenue for $1,500
C) debit to Cash for $3,600
D) debit to Unearned Service Revenue for $1,500
Correct Answer:
Verified
Q1: Why does an accountant prepare the income
Q2: An adjustment of an asset for which
Q4: Which of the following combinations of ratios
Q5: On December 15, 2019, a company receives
Q6: An expense incurred in 2019 is not
Q7: On December 31, 2020, salaries owed to
Q8: An accrual refers to an event:
A) where
Q9: Interest Payable, Salaries Payable, and Accounts Payable
Q10: The post closing trial balance for a
Q11: Accumulated depreciation is classified as a(n):
A) expense
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents