When Trying To Determine Payments Made In A Previous Year Is This The Correct Or (1)
When trying to determine payments made in a previous year, is this the correct order in accounting.
Service revenue $4,000
Less Revenue received $1,800
Balance is $2,200
Additional unearned svc. Rev. $750
December service revenue $2,950
Or is this the right order?
Service revenue $4,000
Addt’l unearned service revenue $750
Balance $4,750
Less Revenue received $1,800
Dec. Services revenue $2,950
Thank for your help
