Brandon Company's annual accounting year ends on September 30.All journal entries have been made for the period ended September 30,2007,except for the following two items.Prepare the adjusting journal entries that are needed.
A.Cash of $4,200 was collected on August 1,2007,for services to be provided evenly over the following 12 months beginning on August 1.Unearned Service Revenue was credited for $4,200 when the cash was received.
B.The company earned service revenue of $2,000 on a special job that was completed on September 29,2007.Collection will be made during October 2007.No entry has been recorded yet.

Question

Quizplus · Accepted Answer

The Answer of Brandon Company's annual accounting year ends on September 30.All journal entries have been made for the period ended September 30,2007,except for the following two items.Prepare the adjusting journal entries that are needed.
A.Cash of $4,200 was collected on August 1,2007,for services to be provided evenly over the following 12 months beginning on August 1.Unearned Service Revenue was credited for $4,200 when the cash was received.
B.The company earned service revenue of $2,000 on a special job that was completed on September 29,2007.Collection will be made during October 2007.No entry has been recorded yet.

Brandon Company's Annual Accounting Year Ends on September 30