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  1. business
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  3. on january 1, a customer paid x company $25,500 in

On January 1, a customer paid X Company $25,500 in advance for cleaning services. The...

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Accounting

On January 1, a customer paid X Company $25,500 in advance for cleaning services. The cleaning was going to be done once in January, once in February, once in March, and once in April. What will be the result of X Company's adjusting entry on January 31?

revenue of $6,375 reported on the Income Statement a $6,375 decrease in Retained Earnings on the Balance Sheet a $6,375 decrease in Cash on the Balance Sheet a balance of $6,375 in Deferred Revenue on the Balance Sheet a $6,375 increase in Cash on the Balance Sheet a $6,375 increase in Deferred Revenue on the Balance Sheet

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