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Gold Gym received $100,000 from customers as prepaid gym membership fees for the next 12 months. Dr Cash 100,000 Cr Unearned revenue 100,000 Explain how

Gold Gym received $100,000 from customers as prepaid gym membership fees for the next 12 months. Dr Cash 100,000 Cr Unearned revenue 100,000 Explain how Gold Gym should recognise this event, justifying your answer with reference to relevant conceptual framework definitions and recognition criteria.

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