H&R Wholesalers is a retailer providing low cost, bulk items to small companies. Companies must pay an annual membership fee of $100 to access H&R's warehouses. H&R received yearly membership fees from 420 companies on August 1, 2019. At December 31, 2019, calculate the remaining amount of Unearned Revenue and the account balance of the Revenue account. Round amounts to the nearest dollar. Unearned revenue $fill in the blank 1 Revenue
H&R Wholesalers is a retailer providing low cost, bulk items to small companies. Companies must pay an annual membership fee of $100 to access H&R's warehouses. H&R received yearly membership fees from 420 companies on August 1, 2019. At December 31, 2019, calculate the remaining amount of Unearned Revenue and the account balance of the Revenue account. Round amounts to the nearest dollar. Unearned revenue $fill in the blank 1 Revenue
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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H&R Wholesalers is a retailer providing low cost, bulk items to small companies. Companies must pay an annual membership fee of $100 to access H&R's warehouses. H&R received yearly membership fees from 420 companies on August 1, 2019.
At December 31, 2019, calculate the remaining amount of Unearned Revenue and the account balance of the Revenue account. Round amounts to the nearest dollar.
| Unearned revenue | $fill in the blank 1 |
| Revenue |
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