Match each of the following current liabilities with its meaning.
-Amounts collected from customers in advance.
A)Account payable
B)Note payable
C)Wages payable
D)Interest payable
E)Sales taxes payable
F)FICA taxes payable
G)Unemployment taxes payable
H)Unearned sales revenues
I)Estimated warranty liability

Question

Quizplus · Accepted Answer

Unearned sales revenues refer to amounts collected from customers in advance.

(Note: None of the other current liabilities listed match this definition.)

Match Each of the Following Current Liabilities with Its Meaning