Patties Event Planning Service collects her fees from her customers in advance. At January 1, 2010, the
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Question:
Pattie’s Event Planning Service collects her fees from her customers in advance. At January 1, 2010, the balance of her Unearned revenue account was a credit of $4,000. During January and February, she collected $2,000 and $1,000 respectively. During the two month period, she rendered services of $5,500. At the end of February, her adjusted trial balance will show what balance in Unearned revenues?
A) Debit balance of $3,000
B) Credit balance of $3,000
C) Debit balance of $2,300
D) Credit balance of $1,500
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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