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Double-A Public Relations Firm got a new client on September 1.Double-A agreed to provide services to the new client at a rate of $250 per month for a three-month period beginning September 1.Double-A required the client to pay for the entire period on September 1.On September 30,Double-A needs to make an adjusting entry.Please provide that adjusting entry.
GAAP
Generally Accepted Accounting Principles, which are a set of rules and standards for financial reporting followed by companies in the United States.
Principles-Based
An approach to accounting and regulation that emphasizes general guidelines and values to govern behavior rather than precise rules.
Internal Control Standards
The policies and procedures implemented by a company to ensure the integrity of financial and operational information, promote accountability, and prevent fraud.
Sarbanes-Oxley
The Sarbanes-Oxley Act is a U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to securities laws, and to prevent corporate and accounting fraud.
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