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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
On April 1, 2017, Planet Services received $8,000 in advance of performing the services from a customer for three months of service  April, May and June. What would be the journal entry to adjust the accounts at the end of May? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
A) Debit Service Revenue $2,667, and credit Unearned Revenue $2,667.
B) Debit Unearned Revenue $8,000, and credit Service Revenue $8,000.
C) Debit Service Revenue $5,333, and credit Accounts Receivable $5,333.
D) Debit Unearned Revenue $5,333, and credit Service Revenue $5,333.
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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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
3 years ago
thank you
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