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On August 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at year end on the...

On August 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at year end on the work sheet would

A.increase a liability account
B.decrease an asset account
C.decrease a revenue account
D.decrease a liability account

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