accounting assignment 2 With Latest Update 100% Accurate

the detailed record of the changes in a particular asset, liability, or owners equity is called? - ANSWER-an account Which of the following accounts is a​ liability? A. Prepaid Rent Expense B. Unearned Revenue C. Accounts Receivable D. Service Revenue - ANSWER-B) Unearned Revenue The left side of an account is used to record which of the​ following? - ANSWER-Debits Which of the following statements is​ correct? A. Accounts Payable is increased with a credit. B. Rent Expense is increased with a credit. C. Prepaid Expenses are decreased with a debit. D. Unearned Revenue is increased with a debit. - ANSWER-A) Accounts payable is increased with a credit Debit or Credit - ANSWER-increase to cash=D decrease to account payable=D increase to owner, Capital=C increase to unearned revenue=C decreased to accounts receivable=C debit or credit continued - ANSWER-increase to interest revenue=C increase to rent expense=D decrease to office supplies=C increase to prepaid rent=D increase to notes payable=C