Answer / kv

Unearned revenue generally occur in Billing in advance scenario where Billing is done and revenue is not yet accrued. The accounting entry for this transaction would be Dr Receivables A/c and Cr Unearned Revenue. Later on once the revenue is accrued the entry would be Dr Unearned Revenue and Cr Revenue a/c.

Answer / tejakarnati

Unearned Revenue is like an advance payment. 

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