Earned but uncollected revenues are recorded during the adjusting process with a credit to a revenue and a debit to an expense.

Name: Earned but uncollected revenues are recorded during the adjusting process with a credit to a revenue and a debit to an expense.
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Question

Quizplus · Accepted Answer

Earned but uncollected revenues are recorded as accounts receivable, which is an asset, not an expense. Therefore, the entry would be a debit to accounts receivable and a credit to revenue.

Earned but Uncollected Revenues Are Recorded During the Adjusting Process