Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 10 - No. 30)
The debit entry for the prepayment is then carried down to the debit side of the account to record the ____ or supply goods or services to return it to the same accounting year.
Revenue
Liability
Expenses
None of the above
Explanation
The debit entry is recorded to the liability, when revenue is supplied.
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