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    nclherbaccount's Avatar
    nclherbaccount Posts: 1, Reputation: 1
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    #1

    Mar 16, 2009, 07:02 AM
    Journal Entry
    A client pays you today with a check for services to be preformed over the next 6 months. How do you journalize this entry?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Mar 17, 2009, 02:56 PM

    Debit Cash for the amount of the check
    Credit Unearned Service Revenue (Liability Account) for the amount of the check.

    After the services are provided the journal entry will be:
    Debit Unearned Service Revenue for the amount
    Credit Service Revenue for the amount
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