Unearned and prepaid services
On September 1, 2011, Anthony Park, attorney, accepted an $18,000 cash advance from his client, Slab Company, for services to be performed over the next six months.
Required
a. Record the deferral and the related December 31, 2011, adjustment for Anthony Park in an accounting equation.
b. Record the deferral and the related December 31, 2011, adjustment for Slab Company in an accounting equation.
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