Calculate the amount of unearned revenue shown in ABC

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ABC Company is a magazine publisher. In an effort to expand the magazine's circulation, ABC Company decided to give new subscribers a large discount if they subscribe to three years of magazines in advance. Under this program, ABC Company attracted 6,550 new subscribers, each of whom paid $90 for 3-year subscription. ABC Company received the cash in December, 2021 while the subscriptions start in June, 2022 and run through May, 2025.

Question 1: Calculate the amount of unearned revenue shown in ABC Company's balance sheet at December 31, 2023.

Reference no: EM132544463

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