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An adjusting entry involving recognition of unrecorded reven

An adjusting entry involving recognition of unrecorded revenue is necessary at the end of March in which of the following situations.

1. Financial Consultants received payment in February for consulting services rendered in March
2. Financial Consultants began working for a client on March 15; bills will be sent monthly beginning April 15
3. Financial Consultants made payment in january for office rent for the first three months of the year
4. On March 31, a major customer paid his bill for a consulting job completed in February

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An adjusting entry involving recognition of unrecorded revenue is necessary at the end of March in which of the following situations.

1. Financial Consultants received payment ...

Solution Summary

An adjusting entry involving recognition of unrecorded revenue is necessary at the end of March in which of the following situations.

1. Financial Consultants received payment in February for consulting services rendered in March
2. Financial Consultants began working for a client on March 15; bills will be sent monthly beginning April 15
3. Financial Consultants made payment in january for office rent for the first three months of the year
4. On March 31, a major customer paid his bill for a consulting job completed in February

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