ASG 2 - (3-1) Classify the following items as (a) prepaid...

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(3-1)Classify the following items as (a) prepaid expense, (b) unearned revenue, (c) accrued revenue,or (d) accrued expense.1.A three-year premium prepaid on a fire insurance policy.A (Prepaid expense)2.Fees earned but not yet received.C (Accrued revenue)3.Fees received but not yet earned. .B (Unearned revenue)4.Salary owed but not yet paid.D (Accrued expense)5.Subscriptions received in advance by magazines publishers.B (Unearned revenue)
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Term
Fall
Professor
Staff
Tags
Accounting, Revenue, Generally Accepted Accounting Principles, three year, Accrued expense, prepaid expense, 2 900

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