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  3. recording deferred revenue and year-end adjustment

Recording Deferred Revenue and Year-End Adjustment On January 1, Colo Inc. contracts with a customer...

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Accounting

imageimage Recording Deferred Revenue and Year-End Adjustment On January 1, Colo Inc. contracts with a customer to provide services in March for $4,500. The customer paid the full contract price on January 1 . a. Record the entry for the receipt of cash on January 1, recording the full amount as a deferred revenue. b. Record the required adjusting entry on March 31. Recording Deferred Revenue and Year-End Adjustment On January 1, Colo Inc. contracts with a customer to provide services in March for $4,500. The customer paid the full contract price on January 1 . a. Record the entry for the receipt of cash on January 1, recording the full amount as a deferred revenue. b. Record the required adjusting entry on March 31

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