On August 1, Year 1, Benjamin and Associates collected $18,000 in advance for legal services to be rendered for one year. Which of the following entries reflect the end-of-the-year adjustment to reflect revenue earned?
A.
| Accounts Receivable | 6,000 | |
| Revenue | 6,000 |
B.
| Cash | 7,500 | |
| Revenue | 7,500 |
C.
| Cash | 18,000 | |
| Unearned Revenue | 10,500 | |
| Revenue | 7,500 |
D.
| Unearned Revenue | 7,500 | |
| Revenue | 7,500 |
Answer: D
Business
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