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ListenXYZ Company received money in advance of providing services to Company LMN.The money received before it is earned is an increase to XYZ's asset account

ListenXYZ Company received money in advance of providing services to Company LMN.The money received before it is earned is an increase to XYZ's asset account Cash.The amount unearned should also be reported asAnother AssetAn equity accountOA LiabilityORevenues

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