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A company collects payment in advance, debiting Cash and crediting Revenue. At year end, an adjusting entry: a. is not required if all the advance

A company collects payment in advance, debiting Cash and crediting Revenue. At year end, an adjusting entry:

a. is not required if all the advance payment has been earned

b. may need to debit Revenue

c. may need to debit Unearned Revenue

d. both a and b

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