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Recording Prepaid expenses and Unearned Revenues
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Adjusting for unearned revenues
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Tao receives $10,000 cash in advance for 4 months of legal services on October 1, 2008, and records it by debiting cash and crediting unearned revenue both for $10,000. It is now December 31, 2008, and Tao has provided legal services as planned. What adjusting entry shoould Tao maketo account for... View more questions Search
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