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As of December 31, 2017, Liberty Company has not yet received the electric bill for their December usage. Liberty records a journal entry dated December

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As of December 31, 2017, Liberty Company has not yet received the electric bill for their December usage. Liberty records a journal entry dated December 31, 2017 for $650 based on past usage. The $650 represents a(n) on Liberty's financial statements. accrued revenue deferred expense accrued expense deferred revenue

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