Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 13 - No. 15)
If a company has unearned revenue, how is this typically recorded?
Debit Cash, Credit Unearned Revenue.
Debit Unearned Revenue, Credit Cash.
Debit Revenue, Credit Cash.
Debit Cash, Credit Revenue.
Explanation
Increases in unearned revenue are credits.
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