Essay
On February 1, Results Income Tax Service received a $3,000 cash retainer for tax preparation services to be rendered equally over the next four months.The full amount was credited to the liability account Unearned Service Revenue.Assuming that the revenue is recognized equally over the four-month period, what balance would be reported on the February 28 balance sheet for Unearned Service Revenue?
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Revenue recognized monthly = $...View Answer
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Correct Answer:
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