Multiple Choice
If a business has received cash in advance of services being performed and credits a liability account, the adjusting entry needed after the services are performed will be
A) debit Unearned Revenue and credit Cash.
B) debit Unearned Revenue and credit Revenue.
C) credit Unearned Revenue and debit Revenue.
D) debit Unearned Revenue and credit Accounts Receivable.
Correct Answer:
Verified
Correct Answer:
Verified
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