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

Question

Quizplus · Accepted Answer

Unearned Rent is a liability account because it represents the obligation of the business to provide goods or services in the future. The normal balance of a liability account is credit, which means the account is increased by credits and decreased by debits. Therefore, the correct answer is C) liability, credit.

The Type of Account and Normal Balance of Unearned Rent