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on november 28, 2021, Shocker receives a 1,950 payment from a customer for services to be...

on november 28, 2021, Shocker receives a 1,950 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited. Record the adjusting entry for deferred revenue at its year - end of December 31.

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Answer #1

Dear sir/ma'am,

The answer for the above question is:

Date Particulars   Dr. Cr
Nov 28 2021 Bank/Cash a/c   1,950
          To Deferred revenue a/c 1,950
(Being payment received from a cusomer  
for the services to be rendered in the next 3 months)
Dec 31 2021   Deferred revenue a/c       650
            To Service revenue     650
(Being service rendered for Dec month 2021)
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