Victor Company Received $3,200 from a Customer in March of the Current

question 271

Multiple Choice

Victor Company received $3,200 from a customer in March of the current year as an advance payment on services. At the end of the year, $1,400 worth of services have been provided. The year-end adjusting entry that Victor should make to account for the revenue earned is:

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Definitions:

1864

A significant year during the American Civil War, marked by key battles and Union victories that helped to shape the outcome of the conflict.

Civil War

Refers to the American Civil War, a conflict between the Northern states (Union) and the Southern states (Confederacy) from 1861 to 1865, primarily over issues of slavery and states' rights.