Match Each Journal Entry That Follows as One of the Types

question 96

Multiple Choice

Match each journal entry that follows as one of the types of journal entries (a-c) below.
-​Unearned Revenue 985
Fees Earned 985

• A)Journal entries
• B)Adjusting journal entries
• C)Closing journal entries

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Definitions:

Bonds Payable

A long-term debt instrument issued by corporations or governments, indicating the amount owed to bondholders, including the terms of interest payments and the maturity date.

Discount on Bonds Payable

The difference between the face value of bonds and their selling price, when the bonds are sold for less than their face value.

Bonds Payable

A financial liability indicating the amount a corporation or government is obliged to pay back to bondholders either upon maturity or over a defined period of time.

Bond Discount

The discrepancy between a bond's nominal value and its market price, occurring when the bond is marketed below its nominal value.