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On September 1, ABC advertising agency (a Corporation) receives $1,200 from its client XYZ Corporation...

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Accounting

On September 1, ABC advertising agency (a Corporation) receives $1,200 from its client XYZ Corporation for advertising services that are expected to be performed next December. According to this transaction, the accountant of XYZ Corporation should record the entry in September 1 and the debit side of the entry should be Cash.

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