What is the effect on the financial statements of earning revenue on account? What is the effect on the financial statements of collection of Accounts Receivable? What type of account is Accounts Receivable and where is it listed on the financial statements? What type of account is Accounts Payable and where is it listed on the financial statements? What is the effect on the financial statements of accruing expenses (i.e., accruing salary expense)? Debits and credits: which side of the T account is each one on? Do we debit or credit an account to increase it (this is different for different types of accounts)? What is the journal entry to record the purchase of land for cash? to purchase land by issuing a Note Payable? When a company borrows money by issuing a Note Payable, how is this recorded using a journal entry? How do we post this transaction in T accounts? What is Unearned Revenue? When and how do we record it?