Nick Co. is a firm that provides legal services. On September 15, a client pays...
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Accounting
Nick Co is a firm that provides legal services. On September a client pays $ upfront to Nick Co for legal services to be performed over the next month. Nick Co will start providing legal services immediately. What is the adjusting journal entry at the end of September?
Dr Unearned Revenue Cr Service Revenue
Dr Cash Cr Service Revenue
Dr Accounts Receivable Cr Service Revenue
Dr Service Revenue Cr Unearned Revenue
Hint: This transaction is an adjusting journal entry that comes from Ch
Review the Ch slides in the Deferred
RevenueUnearned section to see an example.
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