Prepayments of interest expense under asset method should be recorded as debit to unearned interestGroup of answer choicesTrueFalse

Under the allowance method, bad debt expense is recorded:

Explain what is prepaid rent expense, unearned revenue, accrued revenue and accrued expense and whether they're debit or credit on the general journal

Which of the following is a financial asset?Answer : Machinery  Intangible assets   Loan receivable  Prepayments

Which of the following statements is incorrect? a. The normal balance of the receivable account is a debit. b. The normal balance of the owner’s personal account is a debit. c. The normal balance of an unearned revenues account is a credit. d. The normal balance of an expense account is a credit. e. All of the above statements are correct.

A coffee shop that collects payments from customers by debit / credit cards would be liable under the data privacy lawGroup of answer choicesTrueFalse