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    Financial Accounting IFRS Study Set 1
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    Exam 3: Adjusting the Accounts
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    When a Company Receives Cash for Future Service, It Debits
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When a Company Receives Cash for Future Service, It Debits

Question 235

Question 235

True/False

When a company receives cash for future service, it debits unearned revenue on the income statement and credits cash on the statement of financial position.

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