Problemon march 1 thorson law company received 8 600 from a, Ask an Expert

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Problem

On March 1, Thorson Law Company received $8, 600 from a client in advance for 3 months of legal advice. By March 31, Thorson determined that it had done $3, 750 of the work associated with that client.

Write Thorson's March 1 journal entry.

Write Thorson's March 31 end-of-period adjusting entry?

What kind of end-of-period adjusting entry was this?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92750123

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