MGS3 Uniforms. Note: the camo is replaced with the fruit camo in Snake Eater 3D, owing to that game replacing the Kerotan with Yoshi. In Snake Eater 3D, the banana camo can be unlocked by choosing I Like Metal Gear Solid: Peace Walker on the main menu when starting a new game.
We are simply separating the earned part from the unearned portion. Of the $30,000 unearned revenue, $6,000 is recognized as income. In the entry above, we removed $6,000 from the $30,000 liability.The balance of unearned revenue is now at $24,000.f at the end of the year the company earned 20% of the entire $30,000, then the adjusting entry would be: By debiting Service Income for $24,000, we are decreasing the income initially recorded. The balance of Service Income is now $6,000 ($30,000 - 24,000), which is actually the 20% portion already earned.
Unearned Revenue Unearned revenue is a current liability account which represents cash received from customers against which no goods have been delivered or services have been performed. Since revenue is recognized on accrual basis, receipt of cash is not the point at which a company can recognize revenue. When cash is received a company increases its cash and records a liability representing the obligation to provide goods or perform services against the cash received.