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Tutorial   12103

A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is: a...

Question:

A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is: a)    Recorded as a debit to an unearned revenue account b)    Recorded as a debit to a prepaid expense account c)    Recorded as a credit to an unearned revenue account d)    Recorded as a credit to a prepaid expense account e)    Not recorded in the accounting records until the earnings process is complete

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