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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Definitions:

Calcium

A metallic chemical element essential for living organisms, particularly in cell physiology and bone formation.

Chlorine

Chlorine is a chemical element with symbol Cl and atomic number 17, known for its powerful disinfectant properties and use in water purification.

Lewis Dot Structure

A diagram that represents the valence electrons of an atom as dots around the elements' symbols and indicates the bonding between atoms in a molecule.

Electrons

Negatively charged particles located within every atom that are essential for chemical reactions and the production of electricity.