Unearned Revenue: The company collected $24,000 rent in advance on September 1, debiting Cash and crediting Unearned Rent Revenue. The tenant was paying 12 months rent in advance and occupancy began September 1. Answer the four questions below as of 12/31. Whenever you see the word "unearned, it always indicates a liability account. Most liability accounts include the word "payable, as those liabilities will be paid back. An unearned account is a liability that will be worked off, rather than paid off.upancy began September 1