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• LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct? Unadjusted Trial Balance Debit Account Title Equipment (Fixed Asset) Accumulated Depreciation Prepaid Rent Unearned Revenue Unearned Revenue will decrease with a Credit, Revenue Earned will increase with a Debit Revenue Earned will increase with a Credit No adjusting entry is required at period end 100,000 15,000 10,000 1,000 Credit

• LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct? Unadjusted Trial Balance Debit Account Title Equipment (Fixed Asset) Accumulated Depreciation Prepaid Rent Unearned Revenue Unearned Revenue will decrease with a Credit, Revenue Earned will increase with a Debit Revenue Earned will increase with a Credit No adjusting entry is required at period end 100,000 15,000 10,000 1,000 Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please correct option answer fast with explanation and take care of plagiarism please 

• LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct? Unadjusted Trial Balance Debit Account Title Equipment (Fixed Asset) Accumulated Depreciation Prepaid Rent Unearned Revenue Unearned Revenue will decrease with a Credit Revenue Earned will increase with a Debit Revenue Earned will increase with a Credit No adjusting entry is required at period end 100,000 15,000 10,000 1,000 Credit
Transcribed Image Text:• LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct? Unadjusted Trial Balance Debit Account Title Equipment (Fixed Asset) Accumulated Depreciation Prepaid Rent Unearned Revenue Unearned Revenue will decrease with a Credit Revenue Earned will increase with a Debit Revenue Earned will increase with a Credit No adjusting entry is required at period end 100,000 15,000 10,000 1,000 Credit
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