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What the adjusting entry to record on july

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During June, Bravo Magazine sold for cash six advertising spaces for $400 each to be run in the July through December issues. On that date, Bravo properly recognized Unearned Revenue.

Problem 1: The adjusting entry to record on July 31 includes:

a. a credit to Unearned Revenue for $400

b. a credit to Revenue for $2,000

c. a debit to Unearned Revenue for $400

d. a debit to Cash for $2,000

 

Reference no: EM132629264

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