the adjusting entry required when amounts previously recorded as deferred revenues are recognized includes a:multiple choice

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08-09-2022
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the adjusting entry required when amounts previously recorded as deferred revenues are recognized includes a:multiple choice

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rafikiedu05 rafikiedu05 · Answer 1 · 2022-09-11T04:40:06+02:00

The adjusting entry required when amounts previously recorded as deferred revenues are recognized includes a debit to a liability.

Revenue is the entire amount of profits generated with the aid of the sale of products or services related to the organization's number one operations. revenue, also called gross income, is regularly known as the "top line" as it sits on the top of the income statement. profits, or net income, is a business enterprise's overall earnings or earnings.

Regularly the term earnings are used in place of revenues. Examples of revenue debts include sales, service revenues, expenses Earned, interest revenue, and hobby income. revenue money owed is credited when offerings are finished/billed and therefore will typically have credit score balances.

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