Century Security Services Had a New Customer Come in to Their

question 156

Essay

Century Security Services had a new customer come in to their office and request their services for a two-month period. Century will collect a total of $10,000 from the customer at the end of the two-month period. Century began providing services on June 1. On June 30, Century needs to make an adjusting entry to accrue service revenue. Please provide that adjusting entry.

---

Definitions:

Fertility Rate

The average number of children born to a woman over her lifetime within a specific population.

Demographic Transition Theory

Explains how changes in fertility and mortality affected population growth from preindustrial to postindustrial times.

Industrialization

The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods, leading to urbanization and increased technology.

Preindustrial Cities

Urban areas that existed before the widespread use of industrial machinery and the industrial revolution, characterized by simpler economic and social structures.