Cash retainer for accounting services to be provided rate

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Reference no: EM13866530

On January 1, the Biddle & Biddle, CPAs received a $7,500 cash retainer for accounting services to be provided rate ably over the next 3 months. The full amount was credited to the liability account Unearned Service Revenue. Assuming that the revenue is recognized rate ably over the 3 month period, what adjusting journal entry should be made at January 31?

Reference no: EM13866530

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Cash retainer for accounting services to be provided rate : On January 1, the Biddle & Biddle, CPAs received a $7,500 cash retainer for accounting services to be provided rate ably over the next 3 months. The full amount was credited to the liability account Unearned Service Revenue. Assuming that the revenue..

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