Data for an adjusting entry described as "accrued revenue, $3,100" requires a
A) debit to Unearned Income and a credit to Accounts Receivable
B) debit Fees Earned and a credit Accounts Receivable
C) debit to Accounts Receivable and a credit to Fees Earned
D) debit Fees Earned and a credit Revenue

Question

Quizplus · Accepted Answer

Accrued revenue is income that has been earned but not yet received. To record this, you debit (increase) Accounts Receivable to show the amount owed to the company and credit (increase) Fees Earned (or Revenue) to reflect the earned income.

Data for an Adjusting Entry Described as "Accrued Revenue, $3,100