The receipt of $6,000 in advance ticket sales would be recorded as:
A) Debit Unearned Revenue, credit Sales.
B) Debit Sales, credit Unearned Revenue.
C) Debit Unearned Revenue, credit Cash.
D) Debit Cash, credit Unearned Revenue.
E) Debit Cash, credit Revenue Payable.
Correct Answer:
Verified
Q43: The difference between the amount received from
Q44: A short-term note payable:
A) Is not recorded
Q45: MiniCompany borrowed $6,000 by signing an 8%
Q46: A combined GST and PST rate of
Q47: Payroll liabilities for current employees are:
A) Current
Q49: Unearned revenue is initially recognized with a:
A)
Q50: An estimated liability:
A) Can be the result
Q51: Provincial sales tax payable:
A) Is a contingent
Q52: Which of the following accounting policy is
Q53: Short-term notes payable:
A) Are usually interest bearing.
B)
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