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What else can I help you with?
When services are sold on account?
Services are sold on account by which, when you receive revenue or income, it will be receivable if the revenue or income are not earned when the services is/or/are already performed
What is the revenue account for a merchandising business entitled?
Sales
What is A temporary account used in closing revenue and expense accounts called?
The answer is income summary.
Can revenue Canada freeze your bank account if you owe money from student loans?
yes
How do you properly record a sales journal entry?
To properly record a sales journal entry, you need to debit the accounts receivable or cash account for the amount of the sale, and credit the sales revenue account. This reflects the increase in assets or cash from the sale, and the revenue earned from the transaction.
Unearned revenue is a contra revenue account?
Unearned Revenue is a Liability Account
Does a credit to a revenue account increase or decrease an account?
A credit to a revenue account increases the account. In accounting, revenue accounts typically have a normal credit balance, so when a revenue account is credited, it reflects an increase in earnings. Conversely, debiting a revenue account would decrease it.
What kind of account is unearned revenue?
Unearned Revenue is a liability account.
What type of account is unearned revenue?
Unearned Service Revenue is a Liability account.
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
Is Purchase Discount revenue or expense?
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
What type of account is the rent receivable account?
Revenue account
Is unearned revenue is nominal account?
Unearned ravenue is liability account as revenue is not yet earned but cash received.
Does a revenue account normally have a debit balance?
No. A revenue account should always show a credit balance.
Is service revenue a revenue account?
Yes, it is, but accounts receivable is not.
Services rendered in accounting is what account?
revenue account
