A transit company sells monthly transit passes for $100 each. Each pass is valid for ten months and the value of the pass decreases month by month. The company sold 500 units on September 1, 2023. Assume the company's year end is December 31. What is the ending balance of the unearned revenue account at year end after the adjustment is made?

Answer rating: 100% (QA)

To determine the ending balance of the unearned revenue account at yearend we need to calculate the ... View the full answer