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On December 15,2018,Donald Services Company Collected Revenue of $3,000 in Advance

question 192

Essay

On December 15,2018,Donald Services Company collected revenue of $3,000 in advance from a new client,and agreed to provide services to the client for the period of December 15 through January 15 of the following year.Assume that the company records deferred revenues using the alternative treatment.Prepare the December 15,2018 journal entry.Omit explanation.


Definitions:

Date Rape Drug

Refers to any drug that is used to incapacitate someone to facilitate a sexual assault.

Ecstasy

A psychoactive drug, also known as MDMA (methylenedioxymethamphetamine), that produces feelings of increased energy, euphoria, emotional warmth, and distorted sensory and time perception.

Alcohol

A psychoactive substance commonly found in beverages such as beer, wine, and spirits, known for its intoxicating effects.

Ketamine

A medication primarily used for starting and maintaining anesthesia, with secondary uses for pain and depression treatment.

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