On May 1, 2021, Sayed Corporation received $80,000 in advance from Chantel Company for services to be provided over the following 5 months. The company prepares its financial statement quarterly. The amount of revenue earned in the adjusting entry of September 30 is:

On May 1, 2021, Sayed Corporation received $80,000 in advance from Chantel Company for services to be provided over the following 5 months. The company prepares its financial statement quarterly. The amount of revenue earned in the adjusting entry of September 30 is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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None of the above
On May 1, 2021, Sayed Corporation received $80,000 in advance from Chantel
Company for services to be provided over the following 5 months. The company
prepares its financial statement quarterly. The amount of revenue earned in the
adjusting entry of September 30 is:
$80,000
$64,000
$48,000
$32,000
None of the above
Toronto
ded to write off Chris account on November 1, 2020 using

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