On December 1, 2019, Carrie's Day Care receives in advance for an agreement to care for Susan's children for the months of December, January, and February. Carrie's Day Care will make an adjusting entry on December 31, 2019 to:

Answer and Explanation:

Since in the question it is mentioned that the Carrie day care received an advance for an agreement made to care for Susan child for the three months i.e. December, January, and February.

So for this, the unearned revenue is debited for $500 and the same is to be considered

Working note:

Amount of Revenue earned = Advance amount × 1 ÷ (From December to February)

= $1,500 × 1 ÷ 3

= $500

its kinda hard to answer this when we dont have all the information that we need.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.