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Customers' refundable fees | 12 Months Ended
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Dec. 31, 2019
Customers' refundable fees |
Customers' refundable fees | 11. Customers’ refundable fees
|  | As of December 31,
|  | 2017 |  | 2018 |  | 2019
|  | RMB |  | RMB |  | RMB
Balance at beginning of year |  | 76,625 |  | 58,878 |  | 41,697
Cash received from customers |  | 797,529 |  | 554,539 |  | 409,781
Cash refunded to customers |  | (160,653) |  | (36,136) |  | (85,227)
Revenue recognized |  | (654,623) |  | (535,584) |  | (321,335)
Balance at end of year |  | 58,878 |  | 41,697 |  | 44,916
Customers’ refundable fees represent the commission income received in advance (see note 2(s)).

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