The adjusting entry to record the earning of unearned revenues at the end of the year?...
The adjusting entry to record the earning of unearned revenues at the end of the year?
A. Debit, Unearned Revenues; credit, Cash.
B. Debit, Unearned Revenues; credit, Earned Revenues.
C. Debit, Cash; credit, Unearned Revenues.
D. Debit, Earned Revenues; credit, Unearned Revenues.
Homework Answers
Unearned revenues has a credit balance. That credit balance should be treated as income. So earned revenue should be credited and unearned revenues should be debited.
Option B.
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