72) An employee earnings report is a cumulative record of each employee's hours worked, gross earnings, deductions, and net pay Answer: 73) Obligations to be paid within one year or the company's operating cycle, whichever is longer, are: A) Current assets. B) Current liabilities. C) Earned revenues. D) Operating cycle liabilities. E) Bills. Answer: 74) When a company is obligated for sales taxes payable, it is reported as a(n): A) Estimated liability. B) Contingent liability C) Current liability D) Business expense. E) Long-term liability Answer: 75) If a company has advance ticket sales totaling $2,000,000 for the upcoming football season, the receipt of cash would be journalized as: A) Debit Sales, credit Unearned Revenue. B) Debit Unearned Revenue, credit Sales. C) Debit Cash, credit Unearned Revenue. D) Debit Unearned Revenue, credit Cash. E) Debit Cash, credit Ticket sales payable