Question

question 3 (3 points)
unearned rent is what type of account?
asset
revenue
liability
contra - asset
question 4 (3 points)
to determine how much merchandise was returned from a companys customers, the company should review the:
purchases returns and allowances account.
merchandise inventory account.
sales returns and allowances account.
freight - in.

Explanation:

Unearned rent is money received in advance for rent services not yet provided. It represents an obligation to provide the rental service in the future, so it is a liability. For the second - question, the Sales Returns and Allowances Account records merchandise returned by customers and allowances given to them.

Answer:

Question 3: C. Liability
Question 4: C. Sales Returns and Allowances Account