On January 1, the Biddle & Biddle, CPAs Received a $7,500

question 216

Essay

On January 1, the Biddle & Biddle, CPAs received a $7,500 cash retainer for accounting services to be provided rateably over the next 3 months. The full amount was credited to the liability account Service Unearned Revenue. Assuming that the revenue is recognized rateably over the 3 month period, what adjusting journal entry should be made at January 31?

---

Definitions:

Suicide Rate

A metric indicating the number of suicide deaths in a given population and timeframe, used to measure and understand the prevalence and impact of suicidal behaviors.

Hispanic Americans

Refers to people living in the United States who have roots in Spanish-speaking countries, encompassing a diverse range of cultures and backgrounds.

American Indians

Indigenous peoples of the Americas, including various tribes and nations, with distinct cultures and histories.

War Veterans

Individuals who have served in the armed forces, especially those who have served in combat, and may face unique health and social challenges as a result of their military service.