MURTAZA123
Dec 24, 2010, 07:38 AM
Unearned revenue amounted to $130 after adjustment on march 31
pready
Dec 24, 2010, 08:37 AM
Unearned Revenue is a liability because you received money for services or goods to be provided later.
When Unearned Revenue is Earned the journal entry is:
Debit Unearned Revenue for the amount earned
Credit Earned Revenue for the amount earned.