Question
Asked Sep 30, 2019

A company paid $20,000 in Jnauary 2008 to a consultant for work that was to be performed in febuary. The work was performed in Febuary. Make the required entries in January and Febuary for the consultant. 

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Step 1

In the above journal entry, the unearned revenue means that the income received in advance for which work has not performed. As in this case, the cash has been debited as the consultant has received the income in advance for February in January and this will increase the cash account. The increase in as...

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