Unearned Revenue is a current liability recorded by the company when cash is collected in advance from customers before providing the services.* True O False Accounts Payable are recorded when companies sell products or provide services on account.* True False Factoring is a financial transaction in which the company sells its accounts receivables. True False Previous balance in the AFDA is used when preparing the adjusting entry for the estimated uncollectible under the percentage of sales basis.* True False Under the Direct Write off method, the write off entry will include Allowance for Doubtful account.* True False