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Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end.
Adjusting entries (all dated Dec. 31, 2013).

On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,400, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2014.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956629

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