On January 1, a customer paid X Company $33,900 in advance for cleaning services. The...
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Accounting
On January 1, a customer paid X Company $33,900 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?
a balance of $8,475 in Deferred Revenue on the Balance Sheet a $8,475 increase in Deferred Revenue on the Balance Sheet a $8,475 decrease in Retained Earnings on the Balance Sheet revenue of $8,475 reported on the Income Statement a $8,475 decrease in Cash on the Balance Sheet a $8,475 increase in Cash on the Balance Sheet
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