题目内容
Accrued revenues are the income that has been received but not earned.
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Prepaid insurance is an asset account, and hence it appears on the balance sheet.
The depreciation method that allocates an equal amount of depreciation each year is called the straight-line method.
In the case of a prepaid expense, the adjusting entry required at the end of a period will consist of a debit to the Prepaid Expense account. Assume the prepaid expense was initially recorded as an asset.
In the case of unearned revenue, the cash is received first, and the revenue is earned later.
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