13. Unearned revenues are: A. Revenues that have been earned and received in cash. B. Revenues that have been earned but not yet collected in cash. C. Liabilities created when a customer pays in advance for services before the revenue is earned D. Recorded as an asset in the accounting records. E. Increases to owners' capital. 14. Prepaid expenses are: A. Payments made for products and services that do not ever expire. B. Classified as liabilities on the balance sheet. C. Decreases in equity D. Assets that represent prepayments of future expenses. E. Promises of payments by customers. 15. A ledger is: A. A record containing increases and decreases in a specific asset, liability, equity, revenue, or expense item. B. A journal in which transactions are first recorded. C. A collection of documents that describe transactions and events entering the accounting process D. A list of all accounts with their debit balances at a point in time. E. A record containing all accounts and their balances used by a company. 16. A credit: A. Decreases an expense account. C. Increases an unearned revenue account. E. Does all of these. B. Decreases an asset account. D. Increases a revenue account. 17. Robert Haddon contributed $70,000 in cash and land worth $130,000 to open a new business, RH Consulting. Which of the following general journal entries will RH Consulting make to record this transaction? A. Assets $200,000 R. Haddon, Capital $200,000 B. Cash & Land $200,000 R. Haddon, Capital $200,000 C. Cash Land $ 70,000 130,000 R. Haddon, Capital $200,000 D. R. Haddon, Capital $200,000 Cash Land $70,000 130,000 $200,000 E. R. Haddon, Capital Assets S20,000