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Classify the following items as (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

Classify the following items as
(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 ha…View the full answer


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Corporate Financial Accounting

Corporate Financial Accounting

ISBN: 9781337398169

15th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Details
Chapter # 3- The Adjusting Process
Section: Practice Exercises
Problem: 4
Posted Date: September 05, 2011 06:46:23
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