Under the alternative method for accounting for unearned revenue, which of the following pairs of journal entry formats is correct?
A.
| Initial Entry | Adjusting Entry |
| Cash | Unearned Consulting Revenue |
| Unearned Consulting Revenue | Consulting Revenue |
B.
| Initial Entry | Adjusting Entry |
| Cash | Consulting Revenue |
| Consulting Revenue | Unearned Revenue |
C.
| Initial Entry | Adjusting Entry |
| Cash | Consulting Revenue |
| Unearned Revenue | Unearned Revenue |
D.
| Initial Entry | Adjusting Entry |
| Consulting Revenue | Unearned Revenue |
| Cash | Consulting Revenue |
E.
| Initial Entry | Adjusting Entry |
| Cash | Unearned Revenue |
| Unearned Revenue | Cash |
Answer: B
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