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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
On September 1, Capitol Maintenance Company contracted to provide monthly maintenance services for the next five months at a rate of $2,100 per month.  The client paid Capitol $10,500 on September 1. The maintenance services began on that date. Assuming Capitol records deferred revenues using the alternative treatment, what would be the adjusting entry recorded on December 31?
A) Debit Service Revenue and credit Unearned Revenue for $10,500
B) No entry is needed since revenue was recorded on September 1.
C) Debit Unearned Revenue and credit Service Revenue for $8,400
D) Debit Service Revenue and credit Unearned Revenue for $2,100
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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8 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
7 years ago
Excellent Slight Smile
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#4
7 years ago
thank you very much!
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