If the Unearned Revenue Account Had an Unadjusted Normal Balance

question 10

Multiple Choice

If the Unearned Revenue account had an unadjusted normal balance of $3,800, and an adjustment was made debiting the account for $500, the amount would appear in the Adjusted Trial Balance columns of the work sheet as a

• A) $4,300 debit.
• B) $4,300 credit.
• C) $3,300 debit.
• D) $3,300 credit.
• E) $3,800 debit.

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Definitions:

Bond Transactions

Financial transactions involving the issuance, trading, or redemption of bonds, which are debt securities that entities issue to raise capital.

Bond Sale

The issuance of debt securities by an entity to raise funds from investors, promising to pay back with interest.

Fair Value Method

An accounting approach where assets and liabilities are valued at their current market price to determine their worth.

Brokerage Fee

A fee charged by a broker for executing transactions or providing specialized services.