MCQs>Finance & Management>Accounts Payable>On January 1, 2007, Al's Cleaning Services received an advance payment of $3000 for three months of cleaning services. The $3000 was recorded as Unearned Cleaning Revenue because the services had not yet been provided. Which of the following will include the January 31, 2007 adjustment entry?
Accounts Payable MCQs
On January 1, 2007, Al's Cleaning Services received an advance payment of $3000 for three months of cleaning services. The $3000 was recorded as Unearned Cleaning Revenue because the services had not yet been provided. Which of the following will include the January 31, 2007 adjustment entry?
Answer
Correct Answer: A debit to Unearned Cleaning Revenue for $1000
Explanation:
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