Stimpy,Inc.collected $3,600 on December 20,2011 from a customer for services to be performed next year in 2012.In Stimpy's information system,the entire cash receipt of $3,600 was recorded as revenue earned.Stimpy forgot to make the necessary adjusting entry before preparing financial statements on December 31,2011.Put an X in the appropriate box to show how each of these line items will be reported on Stimpy's December 31,2011 financial statements.Dollar amounts are not required.
Definitions:
Four Year Colleges
Institutions of higher education that typically offer undergraduate degrees after a course of study lasting four years.
Biopsychological
Biopsychological pertains to the study of how biological factors influence behaviors, thoughts, and feelings.
Bodily Events
Physical occurrences within an organism's body that can include physiological reactions and processes.
Chemicals
Substances with a definite molecular composition that are produced by or used in a chemical process, operating as the building blocks of matter in the universe.
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