The unearned revenue account is reduced by Select one: a. receiving payments in advance b. debiting...
The unearned revenue account is reduced by
Select one:
a. receiving payments in advance
b. debiting the account
c. either debiting or crediting the account, depending on circumstances
d. crediting the account
Homework Answers
Ans. Option B
Explanation: Unearned revenue is a current liability. Current liabilities have normal credit balance. A current liability can be reduced by debiting it's account.
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The unearned revenue account is reduced by
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