DQ 2 Week 3 ACC225 - is earned for the vending machines...

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Ritz Manor has unearned revenue based on the adjusting entries. Unearned revenue is a term for cash received in advance of providing products and services. The stocking of the vending machines is considered to be unearned revenue. Once the products and services are provided it becomes earned revenue The Ritz Manor determines the adjustments by the charges for the one night advance and what
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Unformatted text preview: is earned for the vending machines. Adjusting accounts involves each account balance and transaction. It is used to determine if there are any needed adjustments The adjustments affect the balance sheet accounts. Each adjusting entry affects one or more income statement and balance sheet account. Cash does not affect the accounts...
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This note was uploaded on 07/13/2011 for the course ACCT 225 taught by Professor Laurathomas during the Spring '10 term at University of Phoenix.

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