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A gym offers one-year memberships for $99 and requires customersto pay the full amount of cash at the beginning of the membershipperiod. For the gym,

A gym offers one-year memberships for $99 and requires customersto pay the full amount of cash at the beginning of the membershipperiod. For the gym, this is an example of a(n):

Multiple Choice

  • Accrued expense.

  • Accrued revenue.

  • Prepaid expense.

  • Deferred revenue.

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