On January 1, one of X Company's customers paid $38,400 in advance for cleaning services....
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Accounting
On January 1, one of X Company's customers paid $38,400 in advance for cleaning services. The cleaning was going to be done once in January, once in February, and once in March. At the time of the cash receipt, the $38,400 was recorded as Deferred Revenue. What will be the result of the adjusting entry on January 31?
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