On September 1, Best Company began a contract to provide services to Wildwood Company for six months, with the total $10,800 payment to be made at the end of the six-month period. Equal services are provided each month. The firm uses the account Fees Receivable to reflect amounts due but not yet billed.
What proper adjustment would Best Company make on December 31, the end of the accounting period (no previous adjustment has been made)?

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The Answer of On September 1, Best Company began a contract to provide services to Wildwood Company for six months, with the total $10,800 payment to be made at the end of the six-month period. Equal services are provided each month. The firm uses the account Fees Receivable to reflect amounts due but not yet billed.
What proper adjustment would Best Company make on December 31, the end of the accounting period (no previous adjustment has been made)?

On September 1, Best Company Began a Contract to Provide