Earned but unrecorded revenues are recorded during the adjusting process with a credit to a revenue account and a debit to an expense account.

Name: Earned but unrecorded revenues are recorded during the adjusting process with a credit to a revenue account and a debit to an expense account.
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Question

Quizplus · Accepted Answer

Earned but unrecorded revenues are recorded as an adjustment with a debit to a receivable account and a credit to a revenue account. This increases both assets and revenues, with no effect on expenses.

Earned but Unrecorded Revenues Are Recorded During the Adjusting Process