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What adjusting entry is required by Bills firm at end June

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Question - Bill Justice is a lawyer who requires that his clients pay him in advance of legal services rendered. Elliott routinely credits Service Revenue when his clients pay him in advance. In June Bill collected $25,000 in advance fees and completed 60% of the work related to these fees. What adjusting entry is required by Bill's firm at the end of June?

Reference no: EM132539049

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