Essay
Classify the following items as: (1) prepaid expense, (2) unearned revenue, (3) accrued expense, or (4) accrued revenue.
a) fees received but not yet earned
b) fees earned but not yet received
c) paid premium on a one-year insurance policy
d) property tax owed to be paid beginning of next year
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a) (2) unearned reve...View Answer
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