Pattie's Event Planning Service Collects the Fees from Its Customers

question 79

Multiple Choice

Pattie's Event Planning Service collects the fees from its customers in advance. At January 1, 2019, the balance of the unearned revenue account was a credit of $4,000. During January and February, the company collected $2,000 and $1,000 respectively. During the two-month period, the company rendered services of $5,500. At the end of February, the unadjusted trial balance will show what balance in unearned revenues?

• A)debit balance of $1,500
• B)credit balance of $1,500
• C)debit balance of $7,000
• D)credit balance of $7,000

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