3 multiple choices

An accountant who uses the accrual basis of accounting receives cash in advance for services yet to be performed. The entry to record this transaction will include a credit to which of the following accounts? Unearned Expense Service Revenue Prepaid Expense Unearned Service Revenue Question 3 (1 point) An accountant who keeps his books using accrual accounting performs a service but does not receive payment at the time the service is performed. The entry made by the accountant will require a credit to: Unearned Expense Unearned Service Revenue Service Revenue Deferred Expense The ending balance in Retained Earnings is found on: only the balance sheet only the statement of retained earnings both the income statement and the balance sheet both the statement of retained earnings and the balance sheet