On December 31, 2020, Zitta AG received an advance payment from a customer of 14,400...
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Accounting
On December 31, 2020, Zitta AG received an advance payment from a customer of 14,400 for services that will be performed during the next half year. Assume that the services are spread evenly over these six months.
What is the journal entry on December 31? Which adjusting entry is necessary at the end of January?
Match the accounts and their correct amounts with the correct debit and credit entries on December 31 and January 31 respectively:
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