Which of the following describes the classification and normal balance of the Unearned Rent Revenue account?
A)Asset, debit
B)Liability, credit
C)Revenues, credit
D)Expense, debit

Question

Quizplus · Accepted Answer

Unearned Rent Revenue is a liability account that represents rent received in advance for services that have not yet been performed. It has a normal credit balance.

Which of the Following Describes the Classification and Normal Balance