Question: Question Content Area Classify the following items as: ( 1 ) prepaid expense, ( 2 ) unearned revenue, ( 3 ) accrued expense, or (

Question Content Area
Classify the following items as: (1) prepaid expense, (2) unearned revenue, (3) accrued expense, or (4) accrued revenue.
Line Item DescriptionAnswera. Fees received but not yet earned.
Accrued expenseAccrued revenuePrepaid expenseUnearned revenueAccrued revenue
b. Fees earned but not yet received.
Accrued expenseAccrued revenuePrepaid expenseUnearned revenue
c. Paid premium on a 1-year insurance policy.
Accrued expenseAccrued revenuePrepaid expenseUnearned revenue
d. Property tax owed to be paid beginning of next year.
Accrued expenseAccrued revenuePrepaid expenseUnearned revenue

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