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Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit to Unearned Subscription Revenue for $90 B. credit to Unearned Subscription Revenue for $90 C. credit to Subscription Revenue for $90 OD. debit to Subscription Revenue for $90 An accrued expense is an expense incurred by the company but not yet paid in cash. True O False Dreams Take Flight Ltd. includes the sales tax in the amount recorded in the Sales account. The adjusting entry at the end of the period includes a: O A. credit to Sales O B. debit to Sales Tax Payable O C. debit to Sales OD. debit to Sales Tax Expense Failure to record an accrued liability causes a company to: O A. overstate liabilities O B. overstate owners' equity O C. overstate expenses OD. overstate assets
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