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Unearned revenue
Unearned Revenue in Accrual Accounting
December 11, 2023
Can you explain the concept of unearned revenue in accrual accounting?
Unearned revenue represents payments received for goods or services not yet provided. In accrual accounting, it's recognized as a liability until the obligation to deliver goods or services is fulfilled, after which it's recognized as revenue.
Tags : Unearned Revenue , Accrual Accounting , Liabilities