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What is the dollar amount of entry the company would make

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Reference no: EM132993570

On December 1, 2021, a customer paid Hillsdale Inc, $3,300 cash for 4 months of maintenance services. Services started on December 1, 2021. The company recorded the following entry on December 1, 2021; Dr. Cash, Cr, service revenue for $3,300

The company has a December 31 year-end and they use the expedited (also called the income statement method) to record adjusting entries. Adjusting entries are recorded annually.

Question 1: What is the dollar amount of the entry the company would make at year-end?

Question 2: What type of adjusting entry did the company make?

Reference no: EM132993570

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