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Figure 50-2
Use the figure to answer the corresponding question(s) .
-What is the function of the structure that is labeled 7 in Figure 50-2?
Interest Revenue
Income earned by an entity from lending money or through investments in interest-bearing assets.
Deferred Revenue
Deferred Revenue is income a company has received for goods or services that have yet to be delivered or performed, recorded as a liability on the balance sheet.
Service Revenue
Income earned by a company through providing services as opposed to selling physical goods.
Salaries Payable
An account that records the amount owed to employees for work performed but not yet paid.
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