It is the amount collected by the business in advance from the customers before the business actually provide the goods or services to the customers. a. Bank overdrafts O b. Outstanding expenses Accounts payable d. Unearned revenues

It is the amount collected by the business in advance from the customers before the business actually provide the goods or services to the customers. a. Bank overdrafts O b. Outstanding expenses Accounts payable d. Unearned revenues

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter4: Journalizing And Posting Transactions

Section: Chapter Questions

Problem 4MC: When fees are earned and the customer promises to pay later, which account is debited? (a) Cash (b)...

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Question

It is the amount collected by the business in advance from the
customers before the business actually provide the goods or
services to the customers.
a.
Bank overdrafts
O b. Outstanding expenses
Accounts payable
Od. Unearned revenues

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