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Unearned Fees appear on the O balance sheet in the stockholders equity section Oincome statement as revenue O balance sheet
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Answer #1

The correct option is “balance sheet as a current liability”.

Explanation: The unearned fee is the revenue which is not yet earned by the company but the cash or other monetary benefit is already received for it. As the company has received the consideration for the services in advance; therefore, it is the liability of the company to perform the services. It is a current liability because it is most likely to be performed within the one year of becoming due.

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