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Question(s) / Instruction(s):

UNI Co. received $1,000 from Newbie as rent for the use of a building owned by UNI. How does this transaction affect UNI’s accounts if UNI recognizes a liability?

a. Cash is increased and revenue is increased.

b. Cash is increased and revenue is decreased.

c. Cash is increased and unearned revenue is increased.

d. It is not recorded.

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