Question

Adjustments for unearned revenue. Please provide the following journal entry:

Sept. 30: Received a cash deposit from a client as prepayment for year-end accounting services of $4500.

Please provide the following adjusting entry:

Dec. 31: Provided the accounting services to the client of Sept. 30th.

Answer 1

Jounal entries are as follows:

Date	Account and Explanation	Debit($)	Credit ($)
Sept. 30	Cash	4,500
	Unearned revenue		4,500
	(Recorded the unearned revenue )
Dec. 31	Unearned revenue	4,500
	Service Revenue		4,500
	(Recoded the Service Revenue