Why the fee for the sixth month will be recorded, Accounting Basics

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Why the fee for the sixth month will be recorded

Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end.
Adjusting entries (all dated Dec. 31, 2013).

On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,400, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2014.

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Accounting Basics: Why the fee for the sixth month will be recorded

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Accounting Basics: Why the fee for the sixth month will be recorded

Reference No:- TGS0683894

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Units of production and double declining balance methods

Q : The necessary entries to record

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Q : Why the fee for the sixth month will be recorded

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Accounting Basics: Why the fee for the sixth month will be recorded

Reference No:- TGS0683894

Recent Questions Asked Accounting Basics

Q : Units of production and double declining balance methods

Q : The necessary entries to record

Q : Compute amount of unrealized intra-entity profit

Q : Due to rapid employee turnover

Q : Why the fee for the sixth month will be recorded

Q : What is tigor enterprises

Q : How the principle interest will be paid at the end

Q : Find expected number of misprints in poisson distributed

Q : Merchandise on a consignment basis

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