U<span>pon receiving the $21,600 payment of the client, Capitol should recognize a deferred revenue. Deferred revenue </span>is<span> the receipt of compensation when the services are</span> <span>not yet rendered. </span>Since they<span> started on September 1, </span><span>they </span>have rendered four months of service to the client until December 31. The rate of their services is $2,400 per month. Therefore, they have earned $9,600 for the current year. This is the adjusting entry to recognize revenue for the year: 
Deferred Revenue                          9,600
       Service Revenue                                       9,600
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The answer will be CANOE. Hope this helps:)
        
             
        
        
        
Don't set yourself up for failure. Starting a business is very hard especially in this climate. Instead of trying to start a business in a year work in steps each year to get to that goal
 
        
                    
             
        
        
        
Answer:
The ending balance in the retained earnings account is $31400.
Explanation:
The ending balance in the retained earnings accounts is equal to the opening balance of the retained earnings account plus the addition to the retained earnings for the year. 
The addition to retained earnings will be the Net income less dividends.
The net income for the year was = 75200 - 55000 = $20200
Addition to Retained earnings = 20200 - 12600   = $7600
Closing balance of retained earnings = 23800 + 7600  = $31400