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On May 1, 2023, XYZ Company received $45,000 cash from a customer as payment for services to be performed over the next 15 months.

On May 1, 2023, XYZ Company received $45,000 cash from a customer as payment for services to be performed over the next 15 months. Calculate the amount of unearned revenue that would appear in XYZ Company's December 31, 2023 balance sheet.

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