During 2018, the following events occurred for Parker Company Parker receives $31,200 cash in advance from Westberry Company for consulting services to be performed over a one-year period beginning March 1, 2018. Provided $53,900 of consulting services on account. Collected $10,400 cash from customers in partial settlement of its accounts receivable. Parker recognizes the portion of the unearned revenue it earned during the accounting period. After recording all these transactions, Parker’s balance in deferred revenue will be $

During 2018, the following events occurred for Parker Company Parker receives $31,200 cash in advance from Westberry Company for consulting services to be performed over a one-year period beginning March 1, 2018. Provided $53,900 of consulting services on account. Collected $10,400 cash from customers in partial settlement of its accounts receivable. Parker recognizes the portion of the unearned revenue it earned during the accounting period. After recording all these transactions, Parker’s balance in deferred revenue will be $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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WHAT IS THE TOTAL AMOUNT INCLUDED IN THE "TRADE AND OTHER RECEIVABLE"