Multiple Choice
On 1 May 2018, Dress in Style received a $2000 advance payment from a customer for the design and making of a formal gown. The gown is expected to be completed by the end of August 2018. By 30 June 2018, approximately half of the dress is complete. The correct adjusting entry to be recorded at 30 June 2018 is:
A) DR Dress-making expenses $1000; CR Unearned income $1000
B) DR Unearned income $1000; CR Bank $1000
C) DR Unearned income $1000; CR Dress-making income $1000
D) DR Income earned $1000; CR Dress-making income $1000
Correct Answer:
Verified
Correct Answer:
Verified
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