Unearned Sales Revenue of P 120,000 was overlooked at the end of 2021. What would be the adjusting entry if the error was discovered at December 31, 2022? a. Debit - Retained Earnings, P 120,000; Credit - Unearned Sales Revenue, P 120,000. b. Debit - Retained Earnings, P 120,000; Credit - Sales Revenue, P 120,000. c. No adjusting entry is necessary d. Debit - Sales Revenue, P 120,000; Credit

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Q: How to do Question 3

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A: Following is the correct answer

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A:

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