Assuming unearned revenues are originally recorded in balance sheet accounts, the adjusting entry to record earning of

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Assuming unearned revenues are originally recorded in balance sheet accounts, the adjusting entry to record earning of unearned revenue is:

A. Increase an expense; increase a liability.

B. Increase an asset; increase revenue.

C. Decrease a liability; increase revenue.

D. Increase an expense; decrease an asset.

E. Increase an expense; decrease a liability.

Related Book For answer-question

Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Posted Date: Oct 11, 2018 07:01 AM

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Assuming unearned revenues are originally recorded in balance sheet accounts, the adjusting entry to record earning of

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Horngrens Financial and Managerial Accounting

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