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The balance in the unearned fees account, before adjustment at the end of the year, is $112,790. Of these fees, $69,735 has been earned. In addition, $13,200 of fees has been earned but has not been billed. Journalize the adjusting entries: A) to adjust the unearned fees account B) to record...
Ricardo Company's balance sheet reported the following information as of January 1, 1998. Accounts Receivable 75,800 Less: Allowance for Doubtful Accounts (6,500) Net Realizable Value 69,300 The following transaction took place during January 1998: Jan 3: Sold 40,000 of merchandise,...
And do I post it in the adjusted trial balance?
Question: Apt complex received 15000 on sept 1 2009 for one years rent in advance and recorded the transaction with a credit to unearned rent. So on December 2007 would I adjust by: Debit rent revenue and credit unearned rent $10000
Unearned rent revenue falls under balance sheet or income statement If it is under balance sheet, is it under current liabilities section
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