Does an unearned income belongs to a balance sheet? If it is a balance sheet category, then is it belong to the asset account or liability account? IS it a current asset or current liabilities?
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Does an unearned income belongs to a balance sheet? If it is a balance sheet category, then is it belong to the asset account or liability account? IS it a current asset or current liabilities?
Unearned Income is where somebody paid you in advance for a good or service. It appears on the balance sheet as a liability because you have to provide a good or service in the future like for a magazine subscription.
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