Great Kids Co.began providing day care for the children of employees of a large corporation on January 15 for an agreed monthly fee of $9,000.The first payment is to be received on February 15.The adjusting entry required by Great Kids Co.on January 31 includes:
A) A credit to Child Care Fees Earned of $4,500.
B) A debit to Child Care Fees Receivable of $9,000.
C) A debit to Unearned Child Care Revenue of $4,500.
D) A debit to Fees Receivable of $9,000.
Correct Answer:
Verified
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