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Enoch,IncBegan Operations on July 1,2011

Question 91

Multiple Choice

Enoch,Inc.began operations on July 1,2011.On August 1,it received $12,000 in advance for services to be performed evenly over the next 12 months.How much unearned revenue should the company report on its balance sheet at December 31,2011?


A) $12,000
B) $1,000
C) $7,000
D) $5,000

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