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queen18
Feb 2, 2009, 08:56 PM
How do I prepare an ajustment entry required of financial statements for the year ended on the date of Dec. 031 2008 when one third of the work related to 15000 dollars cash is received in advance I performed this period

pready
Feb 3, 2009, 08:11 AM
1/3 of your unearned revenue was earned. So you need to do an adjusting entry for 1/3 of the $15,000.