Respuesta :
Answer:
c. Unearned Service Fees 2,000 Service Fees Earned 2,000
Explanation:
We will calculate the amount of revenue earned as:
3,000 total contract x 2 months past / 3 month total duration = 2,000
Then, we will debit the unearned reveue to left room for service or sales revenue. Last, we will post for the sales revenue
Answer:
c. Unearned Service Fees Debit $ 2,000
Service Fees earned Credit $ 2,000
Explanation:
Since two thirds of the services were performed during the accounting period, the required accounting adjustment is for $ 2,000.
The unearned service fees now performed for two thirds of the value shall ve den ited thus reducing the liability and service fees earned shall be credited