Question: Question 7 ( 0 . 7 5 points ) How does the adjusting entry to recognize the portion of the unearned revenue that a company

Question 7(0.75 points)
How does the adjusting entry to recognize the portion of the unearned revenue that
a company earned during the accounting period affect the elements of the financial
statements?
An increase in liabilities and a decrease in equity.
A decrease in assets and a decrease in liabilities.
A decrease in liabilities and an increase in equity.
An increase in assets and a decrease in liabilities.
Question 7(0.75 points) How does the adjusting entry to recognize the

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