What type of account is Unearned revenue and what is its normal balance?
A) Liability and credit
B) Asset and credit
C) Revenue and debit
D) Asset and debit

Name: What type of account is Unearned revenue and what is its normal balance? A) Liability and credit B) Asset and credit C) Revenue and debit D) Asset and debit
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Question

Quizplus · Accepted Answer

Unearned revenue is a liability account, as it represents income that has been received but not yet earned. Furthermore, the normal balance for a liability account is a credit.

What Type of Account Is Unearned Revenue and What Is