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What amount for liability unearn service revenue will appear

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Account for unearned revenue.

The Joe & Einstein Cable Company collects all service revenue in advance. Joe & Einstein showed a $16,825 liability on its June 30, 2008, balance sheet for unearned service revenue. During the following fiscal year, customers paid $85,000 for future services, and the in­ come statement for the year ended June 30, 2009, reported service revenue of $75,850. What amount for the liability unearned service revenue will appear on the balance sheet at June 30, 2009?

Reference no: EM13937756

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