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Matching the statements below with the appropriate terms ( a ) prepaid expenses, ( b ) unearned revenue, ( c ) accrued revenue, ( d
Matching the statements below with the appropriate terms a prepaid expenses, b unearned revenue, c accrued revenue, d accrued expenses:
a A company has provided consulting services to a client, and the client will pay for the services at the end of the project.
b An annual subscription fee has been paid for a magazine, but only two out of the twelve issues have been received so far.
c A customer has made a down payment for a custommade product that will be delivered in three months.
d Interest earned on a savings account, which will be credited to the account at the end of the month.
e A business has paid a deposit to secure a rental space for a future event.
f An employee has taken unpaid leave this month, and the unpaid salary will be deducted from the next month's paycheck.
g A company has received a grant to fund a research project that will start in six months.
h Rent paid for the current month's office space.
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