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On December 15, Branch Company received $3,000 cash for 30 days of consulting services that will be completed on January 13.

On December 15, Branch Company received $3,000 cash for 30 days of consulting services that will be completed on January 13. Branch records all such prepayments by customers in a liability account. Prepare the December 31 adjusting entry. For the toolbar, press ALT+F10 (PC or ALT+FN+F10 (Mac).

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On December 15, Branch Company received $3,000 cash for 30 days of consulting services that will be completed on January 13.
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