Business, 13.10.2021 01:20 JimmySample7

On July 1, a client paid an advance payment (retainer) of $6,000 to cover future legal services. During the period, the company completed $4,600 of the agreed-on services for the client. There was no beginning balance in the Unearned Revenue account for the period. Based on the information provided, Required:
a. Make the December 31 adjusting journal entry to bring the balances to correct.
b. Show the impact that these transactions had.

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On July 1, a client paid an advance payment (retainer) of $6,000 to cover future legal services. Dur...

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