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8) A company had a beginning normal balance of $6,000 in unearned revenues on January 1, 2020. During the year, $2,000 was debited to the
8) A company had a beginning normal balance of $6,000 in unearned revenues on January 1, 2020. During the year, $2,000 was debited to the account. Which of the following is true: | ||||||||||
A) The ending debit balance in unearned revenues is $8,000. | ||||||||||
B) The ending credit balance in unearned revenues is $4,000. | ||||||||||
C) The company has more liabilities at the end of the year than in January. | ||||||||||
D) The company has fewer revenues at the end of the year than in January. | ||||||||||
E) Debiting unearned revenues increases the cash account. |
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