Matching
Classify the following items as:
Premises:
fees earned but not yet received
property tax owed to be paid beginning of next year
fees received but not yet earned
paid premium on a one-year insurance policy
Responses:
unearned revenue
accrued expense
accrued revenue.
prepaid expense
Correct Answer:
Premises:
Responses:
fees earned but not yet received
property tax owed to be paid beginning of next year
fees received but not yet earned
paid premium on a one-year insurance policy
Premises:
fees earned but not yet received
property tax owed to be paid beginning of next year
fees received but not yet earned
paid premium on a one-year insurance policy
Responses:
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