Classify the following items as deferred (prepaid) expense, deferred (unearned) revenue, accrued expense, or accrued revenue. Tuition received in advance by a college. Supplies purchased but not yet used. Wages owed but not yet paid to employees. Fees earned but not yet billed to customers. Subscriptions received in advance by a magazine publisher. Auto insurance purchased but not yet expired. Utilities owed but not yet paid. Taxes owed to IRS but payable in the next accounting period. 1. Deferred (prepaid) expense 2. Deferred (unearned) revenue 3. Accrued revenue 4. Accrued Expense