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-   -   Unearned revenue amounted to $130 after adjustment on march 31 (https://www.askmehelpdesk.com/showthread.php?t=537368)

  • Dec 24, 2010, 07:38 AM
    MURTAZA123
    Unearned revenue amounted to $130 after adjustment on march 31
    Unearned revenue amounted to $130 after adjustment on march 31
  • Dec 24, 2010, 08:37 AM
    pready

    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.

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