A company ask for 40% down for work to be done in the future. In 2011 unearned revenue is $2,050,000. During 2012, $3,780,000 of cash was collected in total from customers: $2,124,000 regarding work completed during the year for customers who pai d 40% in 2011. And the balance representing the 40% pre payment for w ork to be done in 2013
a) prepare the entrie to record cash
b) determine the unearned revenue for Dec 31, 2012