hopeabides Thursday, 07/02/20 11:26:34 AM Re: trainer2 post# 193826 Post # of 198342 That’s not accurate. Revenue is earned. You may or may not have collected. If collected before earned, it will be in cash as an asset and unearned revenue as a liability on the balance sheet. If earned and not collected, then, it is in Accounts Receivable. This is of course accrual-based accounting. ... which KBL is ... not cash based accounting. Unearned revenue is the revenue a business has received for a product or service that the business has yet to provide to the customer. Any business that takes upfront or prepayments before delivering products and services to customers has unearned revenue, which is often also called deferred revenue.