Business, 10.03.2020 01:30 dgadam7495

Duluth Co. collected a $6,000 cash advance from a customer on November 1, 2016 for work to be performed over a six-month period beginning on that date. If the year-end adjustment is properly recorded, what will be the effect of the adjusting entry on Duluth's 2016 financial statements?a. Increase assests and decrease liabilitiesb. Increase assests and increase revenuesc. Decrease liabilities and increase revenuesd. No effect

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