What is the appropriate entry for adjustment

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Problem 1: On January 28, CMCM received in advance, P125,000, from a client for a project that will start on February 14. What is the appropriate entry for transaction 8?

Problem 2: January 29, the company collected the entire receivable from the January 26 transaction. What is the appropriate entry for adjustment 1?

Reference no: EM132996345

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