Multiple Choice
If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Services Revenue, the end-of-period adjusting entry to record the portion of these fees that has been earned is
A) Debit Cash and credit Legal Service Revenue
B) Debit Cash and credit Unearned Legal Service Revenue
C) Debit Unearned Legal Service Revenue and credit Legal Service Revenue
D) Debit Legal Service Revenue and credit Unearned Legal Service Revenue
E) Some other entry
Correct Answer:
Verified
Correct Answer:
Verified
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