Problema company that receives money in advance of, Ask an Expert

Finance

Problem:

A company that receives money in advance of performing a service:

A. debits Unearned Service Revenue and credits Accounts Payable

B. debits Cash and credits Prepaid Insurance.

C. debits Cash and credits Accounts Receivable.

D. debits Cash and credits Unearned Service Revenue.

Please justify your answer.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91146371

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