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Jane Services Sells a Service Plan for Commercial Computer Maintenance

question 63

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Jane Services sells a service plan for commercial computer maintenance. The price is $1,350 per year, paid in advance. On October 1, 2015, Jane sells a service plan to a new customer for cash, and the plan covers the period October 1, 2015 to September 30, 2016. Provide the journal entry to record the adjustment needed on December 31, 2015.


Definitions:

Employee Hiring

The process of finding, selecting, and onboarding new employees to fill open positions within an organization.

Male Chauvinism

The belief in the superiority of men over women, often manifesting in prejudice, discrimination, or denigration of women.

Belief

An acceptance that something exists or is true, especially without proof.

Asians

People originating from or associated with the continent of Asia, which includes diverse cultures, languages, and ethnicities.

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