The type of account and normal balance of Unearned Fees is
A) revenue, credit
B) expense, debit
C) liability, credit
D) liability, debit

Name: The type of account and normal balance of Unearned Fees is A) revenue, credit B) expense, debit C) liability, credit D) liability, debit
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Question

Quizplus · Accepted Answer

Unearned Fees is a liability account as it represents the money received in advance for services to be rendered in the future. The normal balance of a liability account is on the credit side.

The Type of Account and Normal Balance of Unearned Fees