1. I am not sure if you can debit A/R just because the company has signed off a contract.
2. Should be Debit Deferred Revenue and Credit Revenue. Or else can you eliminate the balances in deferred revenue?
1. I am not sure if you can debit A/R just because the company has signed off a contract.
2. Should be Debit Deferred Revenue and Credit Revenue. Or else can you eliminate the balances in deferred revenue?
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