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What is unearned commission account classification?
liability
What kind of account is unearned revenue?
Unearned Revenue is a liability account.
What is the journal entry for unearned income?
debit unearned incomecredit services liability
Unearned revenue is a contra revenue account?
Unearned Revenue is a Liability Account
Is unearned revenue a liability?
yes
What is unearned commission account classification?
liability
What kind of account is unearned revenue?
Unearned Revenue is a liability account.
What is the journal entry for unearned income?
debit unearned incomecredit services liability
Unearned revenue is a contra revenue account?
Unearned Revenue is a Liability Account
What type of account is unearned revenue?
Unearned Service Revenue is a Liability account.
Is unearned revenue a liability?
yes
Is unearned revenue an asset or liablility?
Unearned revenue is liability until it is earned and shown under liability side of balance sheet.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
When is unearned revenue recognized in the financial statements?
What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements Is a church a company that could have unearned revenue?
What is the entry for unearned commission?
The entry for unearned commission typically involves debiting a cash or accounts receivable account and crediting an unearned revenue account. This reflects the receipt of payment for services or sales that have not yet been performed. Once the commission is earned, the unearned revenue account is debited, and the commission revenue account is credited to recognize the income.
Is unearned revenues account is an example of a liability?
no
What type of account is unearned rent?
Liability account.
