1.Which of the following transactions will affect the balance of? Owner, Capital? A. collection on account B. paid accounts payable C. paid rent expense for the month D. purchased land for cash

2..Which of the following appears on both the income statement and statement of? owner's equity? A. Net income B. ?Owner, Capital, ending balance C. Total revenues D. ?Owner, Withdrawals

3.A liability created when a business receives cash from customers in advance of providing services or delivering goods is called? a(n) ________. A. notes receivable B. unearned revenue C. accrued liability D. service revenue