On august 1 a company collects revenue in advance for the, Ask an Expert

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On August 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at year end on the work sheet would

A.increase a liability account

B.decrease an asset account

C.decrease a revenue account

D.decrease a liability account

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M992497

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