Following are extracts of the 2020 Telstra Limited Statement of Financial Position:

TELSTRA GROUP STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2020 2019

$m $m Current assets Cash and cash equivalents 2.6 499 604 Trade and other receivables and contract assets 3.4 5 121 5 392 Deferred contract costs 3.9 82 95 Inventories 3.5 418 448 Derivative financial assets 4.3 147 179 Current tax receivables 2 7 Prepayments 265 457 Assets classified as held for sale 3.10 − 121 Total current assets 6 534 7 303 Current liabilities Trade and other payables 3.6 3 980 4 528 Employee benefits 5.1 727 804 Other provisions 7.3 124 103 Lease liabilities 3.3 611 −

Borrowings 4.3 2 763 2 222 Derivative financial liabilities 4.3 54 57 Current tax payables 2.4 224 103 Contract liabilities and other revenue received in advance 3.7 1 611 1 657 Liabilities classified as held for sale 3.10 − 79 Total current liabilities 10 094 9 553 Source: Telstra Annual Report 2020. Reproduced with permission Telstra Corporation Limited.

State where you believe the following items would be included. If an item is listed under a different name, state what it is.

a Prepayments b Accrued expenses c Unearned revenue d Accrued revenue