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Record the march cash receipt in t-accounts

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Question - Ditto received a $51,500 cash advance on March 1, 2013, for legal services to be performed in the future. Services were to be provided for a one-year term beginning March 1, 2013.

Required: Record the March 1 cash receipt in T-accounts and the adjustment required as of December 31, 2013.

Reference no: EM132067689

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