Snow removal services are also provided. Outdoor’s Best prepares adjusting entries monthly. The following selected accounts appear on the November 30, 2014, unadjusted trial balance: Required Prepare the monthly adjusting journal entries at November 30, 2014, using the following additional information. a. $86,000 of the Unearned Lawn Services account represents payments received from customers for the 2015 season. The remainder represents fall lawn services actually performed during November 2014. b. $31,950 of the Unearned Garden Services account had been earned by November 30, 2014. c. $9,200 of the Unearned Snow Removal Services account remained unearned at November 30, 2014. d. Outdoor’s arranges with its customers to deliver trees from December 5 to December 20. As a result, the Unearned Christmas Tree Sales account will be earned in total by December 20. Analysis Component: If the Unearned Lawn Services of $102,000 had been recorded as a revenue when received instead of as a liability, what would the effect have been on the November 30, 2014, financial statements assuming no adjustment was made on November 30, 2014? View Solution:
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