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    ed0623's Avatar
    ed0623 Posts: 9, Reputation: 1
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    #1

    Aug 5, 2013, 05:39 PM
    The beginning balance of unearned revenue is 120,000. What would be the adjustment?
    One-third of the unearned revenue has been earned at the year end.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Aug 5, 2013, 05:51 PM
    Take the amount in unearned revenue and divide it by 3 to get your adjusting entry amount. Now your accounts will be Unearned Revenue and Revenues for the adjusting entry amount calculated.

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