Patricia Event Planning Service collects fees from their customers in advance. On January 1, 2015, the balance of her Unearned Revenue account had a balance of $6,000 (Cr.). During January and February, she collected $3,000 and $1,000 as advance fees. During the two–month period, she rendered services of $6,500. What is the balance in Unearned Revenue at the end of February?

A. Debit balance of $3,500

B. Credit balance of $6,000

C. Credit balance of $3,500

D. Debit balance of $6,000

Answer rating: 100% (QA)

C Credit balance of 3500 Schedule of Closing balance in Unearned Revenue at the end of F... View the full answer