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Match Each Transaction to Types of Accounts

Question 271

Matching

Match each transaction to types of accounts

Premises:

Responses:

Used to record revenue earned but not received

Accrued expense

Used to record wages owed, but not paid

Accrued revenue

Used to record expiration of prepaid insurance

Prepaid expense

Used to record revenue received in advance

Unearned revenue

Premises:

Used to record revenue earned but not received

Used to record wages owed, but not paid

Used to record expiration of prepaid insurance

Used to record revenue received in advance

Responses:

Accrued expense

Accrued revenue

Prepaid expense

Unearned revenue

Correct Answer:

Premises:

Responses:

Used to record revenue earned but not received

Used to record wages owed, but not paid

Used to record expiration of prepaid insurance

Used to record revenue received in advance

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