C- Pioneer Advertising received $1,200 for future services on October 1, 2019 and credited the entire amount to Service Revenue

Accounting Sep 19, 2020

C- Pioneer Advertising received $1,200 for future services on October 1, 2019 and credited the entire amount to Service Revenue. On December 31, 2019 Pioneer has performed only $800 of the services, Required: 1- Prepare the adjusting entry on December 31, 2019 for Pioneer Advertising 2- Show the effect of the adjusting entry on the income statement and balance sheet at Dec.31, 2019

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