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The TJ Company collects all service revenue in advance. The company showed a $12,500 liability on its Dec 31, 2011, balance sheet for unearned service revenue. During 2012, customers paid $50,000 for future services, and the income statement for the year ended Dec 31, 2012, reported service revenue of $52,700. What amount for the liability unearned service revenue will appear on the balance at Dec 31, 2012?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9982229

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