On april 1, 2017, planet services received $8,000 in advance of performing the services from a customer for three months of service long dash— april, may and june. what would be the journal entry to adjust the accounts at the end of may? (do not round any intermediate calculations, and round your final answer to the nearest dollar.)a. debit service revenue $5,333, and credit accounts receivable $5,333.b. debit unearned revenue $5,333, and credit service revenue$5,333.c. debit unearned revenue $8,000, and credit service revenue$8,000.d. debit service revenue $2,667, and credit unearned revenue$2,667.

Which statement about the cost of the options is true? she would save $1,000 by choosing option b. she would save $5,650 by choosing option a. she would save $11,200 by choosing option b. she would save $11,300 by choosing option a.

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest. extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

Ajewelry direct sales company pays its consultants based on recruiting new members. question 1 options: the company is running a pyramid scheme, which is illegal. the company is running a pyramid scheme, which is legal. the company has implemented a legal and ethical plan for growth. the company uses this method of compensation to reduce the fee for the product sample kit.