24+ Earning Revenue On Account Would Be Classified As A/An Gif. An example of this would be interest from stocks and bonds, dividend payments, or interest earned on a bank account. As a company earns the revenue, it reduces the balance in the unearned revenue account (with a debit) and increases the balance the unearned revenue account is usually classified as a current liability on the balance sheet.
Operating expenses are the expense element that can be classified into selling expenses and administration expenses.
Balance sheet as a current. An example of this would be interest from stocks and bonds, dividend payments, or interest earned on a bank account. Unearned revenue is recorded as a debit to cash account and credit to unearned revenue account. Which of the following accounts will be closed to the retained earnings account at the end of the after posting the second closing entry to the income summary account, the balance will be equal to.
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