[Solved] Assuming That the Initial Services to Be Performed by Flapper

Question 232
Multiple Choice

Assuming that the initial services to be performed by Flapper Jack's subsequent to the signing are substantial and that collection of the receivable is reasonably assured,the journal entry required at signing would include a credit to:

A)Unearned franchise fee revenue for $36,000.
B)Unearned franchise fee revenue for $30,000.
C)Franchise fee revenue for $36,000.
D)Franchise fee revenue for $ 6,000.

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