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If a business has received cash in advance of services performed and credits a liability account, the adjusting entry needed after the services are performed

If a business has received cash in advance of services performed and credits a liability account, the adjusting entry needed after the services are performed will be:

debit Unearned Service Revenue and credit Accounts Receivable.

debit Unearned Service Revenue and credit Service Revenue.

debit Unearned Service Revenue and credit Prepaid Expense.

debit Unearned Service Revenue and credit Cash.

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