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qaws [65]
3 years ago
5

Revenue of $1,000 was collected in advance from customers for goods and was recorded as sales revenue. At year end, $600 of the

revenue collected in advance is earned. The adjusting entry includes a:
Business
1 answer:
Greeley [361]3 years ago
7 0

Answer:

Please see below

Explanation:

The adjusting entries include

Revenue A/c. Dr. $400

To Deferred revenue A/c. Cr $400

($1,000 - $600)

* When a company makes a journal entry to record revenue that it had previously collected in advance, which was recorded as sales revenue, then the adjusting entry to record portion of the earned revenue received in advance would include a debit to revenue a/c

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Read 2 more answers
Alex Timbers, a wood supplier, receives an order of 10 wooden logs from a furniture manufacturing company. The client brief ment
tester [92]

Answer:

<em>Inaccurate</em>

Explanation:

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4 0
3 years ago
Diminishing marginal product suggests that the marginal A. cost of an extra worker is unchanged. B. cost of an extra worker is l
MArishka [77]

Answer:

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