Ozark Cabin Resorts rents vacation cabins to tourists. Customers pay at the time they book their reservations. In 2020, Ozark Cabin Resorts had a beginning balance of $8,300 in its Unearned Service Revenue account. During 2020, customers made advance deposits of $50,000, and Service Revenue earned during 2020 was $48,000. The December 31 balance in the Unearned Service Revenue was?

Answer rating: 100% (QA)

SOLUTION To determine the balance in the Unearned Service Revenue account on December 31 we ... View the full answer