On August 1 of Year 1 Accounting Associates (AA) collected $1,200 cash for consulting services to be provided for one year beginning immediately. Based on this information, which of the following show how the required adjustment on December 31, Year 1 would affect AA's ledger accounts? a). Revenue $500 Unearned revenue $500 b) Revenue $700 Unearned revenue $700 c) Unearned Revenue $500 Revenue $500 d) Unearned revenue $700 Revenue $700
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