Business, 19.09.2019 23:10 leslie1811

On december 1, simpson marketing company received $2,700 from a customer for a marketing plan to be completed january 31 of the following year. the cash receipt was recorded as unearned fees. the adjusting entry for the year ended december 31 would include: - a debit to earned fees for $2,700.- a debit to unearned fees for $1,350.- a credit to unearned fees for $900.- a credit earned fees for $1,800.- a debit to earned fees for $1,800.

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Answer from: hannahbannana98

a debit to Unearned Fees for $1,350.

Explanation:

As for the provided information, the details provided are:

Cash received for services to be provided up to 31 January, though cash is received on 1 December itself.

Since the accounting and financial year closes on 31 December the adjusting entry will be passed on the date for correcting the unearned revenue.

The unearned revenue has credit balance and as on 31 December such balance shall be debited and earned revenue related to the period up to 31 December shall be credited.

Accordingly total unearned revenue for 2 months = 1 Dec to 31 Jan = $2,700.

Therefore, total revenue for 31 December will be $2,700/2 $\times$ 1 = $1,350.

Accordingly unearned revenue will be debited by the amount and earned revenue will be credited by the same amount.

Answer from: Quest

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

Answer from: Quest

you want me to join your discord for points?

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