Mayfair Book Club Company received advance payments from customers during 2015 of $5,000. At December 31, 2015, $1,200 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2015, what will the balances be in the Unearned Book Revenue and Book Revenue accounts?

Question

Mayfair Book Club Company received advance payments from customers during 2015 of $5,000. At December 31, 2015, $1,200 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2015, what will the balances be in the Unearned Book Revenue and Book Revenue accounts? Mayfair Book Club Company received advance payments from customers during 2015 of $5,000. At December 31, 2015, $1,200 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2015, what will the balances be in the Unearned Book Revenue and Book Revenue accounts?

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The Answer of Mayfair Book Club Company received advance payments from customers during 2015 of $5,000. At December 31, 2015, $1,200 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2015, what will the balances be in the Unearned Book Revenue and Book Revenue accounts?

Mayfair Book Club Company Received Advance Payments from Customers During