Complete the following adjusting entry for Mookie The Beagle Concierge.On January 12, 2018 Julie prepaid $1,600 for pet care services to be provided each Friday for 8 weeks for her Yellow Lab, Honey. Mookie The Beagle Concierge recorded the entire $1,600 as Sales. At the end of the accounting period on January 31, 3 weeks (01/12, 01/19, 01/26 of 2019the pet care services had been provided to Honey, so 5 weeks of services or $1,000 ($1,600/8 = $200 per week) had not been earned as of the end of January. Since $1,000 had not been earned, the $1,000 is a liability because Mookie The Beagle Concierge has an obligation to provide the pet care service or return the $1,000 to the customer. So an adjusting entry is needed to bring accounts up to date at January 31. What is the adjusting entry
Complete the following

Trending now
This is a popular solution!
Step by step
Solved in 2 steps









