Classify the following items as (1) Prepaid expense, (2) Unearned revenue, (3) Accrued revenue, or (4) Accrued
Question:
(1) Prepaid expense,
(2) Unearned revenue,
(3) Accrued revenue, or
(4) Accrued expense.
(a) Cash received for services not yet
(b) Insurance paid
(c) Rent revenue earned but not rendered received
(d) Salaries owed but not yet paid
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a Unearned revenue because the company has the money but has ...View the full answer
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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