Database Services sells service plans for commercial computer maintenance
The price for each plan is $1,350 per year, paid in advance. On October 1, 2017, a service plan was sold to a new customer for cash, and the plan covers the period October 1, 2017 to September 30, 2018. Prepare the December 31, 2017 adjusting entry.
What will be an ideal response
Unearned Revenue ($1,350 x 3/12 ) 337.50
Service Revenue 337.50
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