Adjusting Entries: Unearned Revenue Video Lessons

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Problem: The adjusting entry required when amounts previously recorded as unearned revenues are earned includes: A) A debit to a liability. B) A debit to an asset. C) A credit to a liability. D) A credit to an asset.

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Problem Details

The adjusting entry required when amounts previously recorded as unearned revenues are earned includes:

A) A debit to a liability.

B) A debit to an asset.

C) A credit to a liability.

D) A credit to an asset.

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What scientific concept do you need to know in order to solve this problem?

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Based on our data, we think this problem is relevant for Professor Eccher's class at UIC.