Question

An adjusting entry that increases an asset and increases a revenue is known as a(n):

Answer 1

Answer:

An adjusting entry that increases an asset and increases a revenue is known as Accrued Revenue.

Explanation:

when an organization has earned income yet hasn't yet gotten money or recorded a sum receivable For the situation of gathered incomes, we get money after we earned the income and recorded an advantage.

The modifying section for a collected income consistently incorporates a charge to an advantage account (increment a benefit) and an a worthy representative for an income account (increment an income).