Question
A business received cash of P30,000 in advance for service that will-be provided later. The cash received entry debited Cash and credited Unearned Revenue for
A business received cash of P30,000 in advance for service that will-be provided later. The cash received entry debited Cash and credited Unearned Revenue for P30,000. At the end of the period, P11,000 is still unearned. The adjusting entry for this situation is
A. Debit Unearned Revenue and credit Revenue for P19,000. B. Debit Unearned Revenue and credit Revenue for P11,000. C. Debit Revenue and credit Unearned Revenue for P19,000. D. Debit Revenue and credit Unearned Revenue for P11,000.
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Introduction To Financial Accounting
Authors: Anne Marie Ward, Andrew Thomas
7th edition
77138449, 978-0077132682, 77132688, 978-0077138448
