$2000 of unearned service revenue is still unearned at Dec 31st do I subtract 2000 from the unearned service revenue on the original balance sheet to get the adjusting entry because its still unearned?
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$2000 of unearned service revenue is still unearned at Dec 31st do I subtract 2000 from the unearned service revenue on the original balance sheet to get the adjusting entry because its still unearned?
You Subtract a amount from your beginning Unearned Service Revenue to get to the ending amount of $2,000 in the Unearned Service Revenue Account.
For example if there is a beginning Unearned Service Revenue Account has $10,000 then you do an $8,000 adjusting entry to reach the ending balance of $2,000 in the Unearned Service Revenue.
The adjusting entry is:
Debit Unearned Service Revenue for the Amount.
Credit Service Revenue for the Amount.
Sooo if the beginning balance for unearned service revenue is 3100. And 2000 is still unearned would u debit unearned service rev for 1100 in the adjusting entry?
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