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Stimpy,Inc

Question 68

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Stimpy,Inc.collected $3,600 on December 20,2011 from a customer for services to be performed next year in 2012.In Stimpy's information system,the entire cash receipt of $3,600 was recorded as revenue earned.Stimpy forgot to make the necessary adjusting entry before preparing financial statements on December 31,2011.Put an X in the appropriate box to show how each of these line items will be reported on Stimpy's December 31,2011 financial statements.Dollar amounts are not required.
Stimpy,Inc.collected $3,600 on December 20,2011 from a customer for services to be performed next year in 2012.In Stimpy's information system,the entire cash receipt of $3,600 was recorded as revenue earned.Stimpy forgot to make the necessary adjusting entry before preparing financial statements on December 31,2011.Put an X in the appropriate box to show how each of these line items will be reported on Stimpy's December 31,2011 financial statements.Dollar amounts are not required.

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