When a company receives cash from a client for a job that has not been completed, the funds are classified as unearned revenue. Unearned revenue exists as a liability because it creates an obligation ...
If your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...
To continue reading this content, please enable JavaScript in your browser settings and refresh this page. In the world of mergers and acquisitions, earnouts (also ...
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