Record the december year-end adjusting entry bucks record

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Problem

Lonzo Company receives $5,700 cash in advance for six months of recycling services on September 1 and records it by debiting cash and crediting unearned revenue for $5,700. Lonzo provides recycling services monthly as promised. Prepare the December 31 year-end adjusting entry that Lonzo records for the work performed from September 1 throught December 31. b. On October 20 Miwaukee Bucks sold a 10 game ticket package for $11,80 and recorded Unearned Revenue. By December 31, 4 of the 10 games had been played. Get the instant assignment help. Record the December 31 year-end adjusting entry the Bucks record for the 40% of revenue earned on the $1,180 ticket package.

Reference no: EM133906379

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