Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendered. Elliott routinely credits Service Revenue when his clients pay him in advance. In June Elliott collected $15,000 in advance fees and completed 70% of the work related to these fees. What adjusting entry is required by Elliott's firm at the end of June?
A) Unearned Service Revenue ... 10,500, Service Revenue ... 10,500
B) Unearned Service Revenue ... 4,500, Service Revenue ... 4,500
C) Cash ... 15,000, Service Revenue ... 15,000
D) Service Revenue ... 4,500, Unearned Service Revenue ... 4,500
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Elliott Smith is a lawyer who requires that his clients pay him in advance of legal services rendered. Elliott routinely credits Service ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Bowser bought mushrooms at the farmer's market. He paid $4.32 for 6 pounds of mushrooms. At that rate, how much should he pay for 5 pounds of mushrooms?
Answers (1)
Rectangular table is two times as long as it is wide. if the area is 18 ft^2, find the length and the width of the table
Answers (1)
There are 42 apples in the nucket. If jimmy has 18 apples tom had 4 and randy had 7. How many apples did david have.
Answers (2)
Which is the graph of the linear inequality x - 2y > - 6?
Answers (1)
A survey was conducted by a website on which online music channels subscribers use on a regular basis. The following information summarizes the answers. 10 listened to rap, heavy metal, and alternative rock. 13 listened to rap and heavy metal.
Answers (1)
New Questions in Mathematics
What is the solution to the system of equations? Use the substitution method. {y=-2x+5 {3x-4y=2 Enter your answer in the boxes.
Answers (1)
Absolute value of - 1 + 3i
Answers (1)
Round 64,569 to the thousands
Answers (1)
Keenan received two cube shape packages in the mail. The first package measured half the side lengths of the first. What was the volume of the second package Keenan received?
Answers (1)
Dan was 8 years old when his sister was born. Now the sum of their ages is 56. Write an equation to represent this problem. Let the sister's age be s.
Answers (1)