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View Full Version : The beginning balance of unearned revenue is 120,000. What would be the adjustment?


ed0623
Aug 5, 2013, 05:39 PM
One-third of the unearned revenue has been earned at the year end.

pready
Aug 5, 2013, 05:51 PM
Take the amount in unearned revenue and divide it by 3 to get your adjusting entry amount. Now your accounts will be Unearned Revenue and Revenues for the adjusting entry amount calculated.