Question
ROK Company has a balance of $20,000 in its Unearned Revenue account. At the end of the accounting period, an analysis shows that $5,000 of
ROK Company has a balance of $20,000 in its Unearned Revenue account. At the end of the accounting period, an analysis shows that $5,000 of this Revenue has now been earned. The proper adjusting entry for this would include a:
A credit to Unearned Revenue for $5,000
A debit to Revenue for $15,000
A debit to Unearned Revenue for $15,000
A credit to Revenue for $5,000
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Accounting For Beginners
Authors: Neel Gaines
1st Edition
1801120897, 978-1801120890
