A company is in its first month of operations. On January 15, the company receives $600 from customers who will receive 10 voice lessons ($60 per lesson). As of January 31, the company has provided 8 voice lessons. What adjusting entry would be made at the end of January?

Explanation:

The adjusting journal entries are shown below:

On January 15

1. Cash A/c Dr $600                ($60 × 10 voice lessons)

    To Unearned revenue A/c $600

(Being the cash is received)

On January 31

2. Unearned revenue A/c Dr $480     ($60 × 8 voice lessons)

                  To Service revenue A/c  $480

(Being the unearned revenue is recorded)

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.