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4 Cards in this Set
- Front
- Back
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Defered Revenues
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Previously recorded liabilities that were recorded when cash was recieved in advance (Unearned ______ )
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Accrued Revenues
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Revenues that have been earned but not yet recorded because cash will be received after the services are performed or goods are delivered
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Deferred Expenses
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Previously recorded assests that were created when cash was paid in advance (Prepaid Rent, Supplies)
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Accrued Expenses
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Expenses that have been incurred but not yet recorded because cash will be paid after the goods or services are used
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