accounting - Quiz 3 answers 1 cash A 18,000 a unearned...

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Quiz 3 answers 1) cash (+A) 18,000 a. unearned subscription revenue (+L) 1800 2) unearned subscript revenue (-L) 1500 a. subscriptions revenue (+R) 1500 i. cost of goods sold (+E) 1500 ii. 3) Interest receivable (+a) 135 a. Interest revenue (+R) 135 Ch.4 Adjusting entries and closing entries Adjusting entries - Accrued revenue- revenue earned before cash received - Accrued expense- expense incurred before cash paid - Deferred revenue- cash received before revenue earned - Deferred expense- cash paid before expense incurred - Adjustments requiring estimates accrued Revenue earned Expense incurred-------end of period--- cash received or paid Ex: Interest earned but not received Deferred rev or exp Cash received or paid---- end of pd----- revenue earned or expense incurred Adjusting entries requiring estimates Depreciation-useful life, salvage value Bad debt expense-receivables that won’t be collected Abc’s depreciation expense for 2008 is $500,000. What entry would ABC record on Dec 31, 2008?
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This note was uploaded on 04/07/2008 for the course ACG 2021C taught by Professor Mcdonald during the Spring '08 term at University of Florida.

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accounting - Quiz 3 answers 1 cash A 18,000 a unearned...

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