Homework Answers
Journal entry
| date | account and explanation | Debit | Credit |
| Nov 15 | Cash | 7200 | |
| Deferred revenue | 7200 | ||
| (To record deferred revenue) | |||
| Dec 31 | Deferred revenue (85*80) | 6800 | |
| Revenue earned | 6800 | ||
| (To record revenue earned) |
1b) Liability = 7200-6800 = 400
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PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
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PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
THANK YOU!
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