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kboardbX what is stockholders equx |M Inbox (1,662)-galomikeycLearn×group portrard.com/webapps/ubsh-Iti-integration-BBLEARN//app/content/launchHandler?courseid- 132178 18contentpus Powered by BbeCampusSePortfolios Community Content CollectionmentsHW Assignment 3MenuQUESTION 7 Not changed since last attempt Marked out of 1.00 Flag questionOn October 1, a company received $3,600 for services to be performed over thenext 6 months, with an equal amount of work to be completed each month. If no adjusting entryis made on December 31,Select one:O a. net income will be understated by $3,600O b. net income will be understated by $1,800O C. net income will be overstated by $1,800O d. net income will be overstated by $3,600O e. net income will be understated by $2,400Save AnswersPrevious pageNext page[D

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HW Assignment 3
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QUESTION 7 Not changed since last attempt Marked out of 1.00 Flag question
On October 1, a company received $3,600 for services to be performed over the
next 6 months, with an equal amount of work to be completed each month. If no adjusting entry
is made on December 31,
Select one:
O a. net income will be understated by $3,600
O b. net income will be understated by $1,800
O C. net income will be overstated by $1,800
O d. net income will be overstated by $3,600
O e. net income will be understated by $2,400
Save Answers
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kboard b X what is stockholders equ x | M Inbox (1,662)-galomikeyc Learn × group portr ard.com/webapps/ubsh-Iti-integration-BBLEARN//app/content/launchHandler?course id- 132178 18content pus Powered by Bb eCampusS ePortfolios Community Content Collection ments HW Assignment 3 Menu QUESTION 7 Not changed since last attempt Marked out of 1.00 Flag question On October 1, a company received $3,600 for services to be performed over the next 6 months, with an equal amount of work to be completed each month. If no adjusting entry is made on December 31, Select one: O a. net income will be understated by $3,600 O b. net income will be understated by $1,800 O C. net income will be overstated by $1,800 O d. net income will be overstated by $3,600 O e. net income will be understated by $2,400 Save Answers Previous page Next page [D

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Unearned revenue is the revenue already collected but not yet earned. In the accrual concept of accounting, unearned revenue is considered as liabilities. If adjusting entries are not made for unearned revenue at the end of ac...

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