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Question(s) / Instruction(s):

A company receives a $50,000 cash deposit from a customer on October 15 but will not provide services until November 20. Which of the following statements is true? a) The company records cash collection November 20. b) The company records service revenue on October 15. c) The company records an unearned revenue on October 15. d) The company records nothing on October 15.

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