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    MURTAZA123's Avatar
    MURTAZA123 Posts: 1, Reputation: 1
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    #1

    Dec 24, 2010, 07:38 AM
    Unearned revenue amounted to $130 after adjustment on march 31
    Unearned revenue amounted to $130 after adjustment on march 31
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    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.
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