[Solved] Assume at March 15,2015,the Time of Signing the Contract,collection of the Receivable
Assume at March 15,2015,the time of signing the contract,collection of the receivable was reasonably assured and there were no significant continuing obligations.The journal entry at signing would include a:
A)Credit to franchise fee revenue for $36,000.
B)Credit to franchise fee revenue for $9,000.
C)Credit to unearned franchise fee revenue for $36,000.
D)Credit to unearned franchise fee revenue for $27,000.
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