Patricia Event Planning Service Collects Fees from Their Customers in Advance.On

question 5

Multiple Choice

Patricia Event Planning Service collects fees from their customers in advance.On 1 January 2016,the balance of her Unearned revenue account had a balance of $5000 (Cr. ) .During January and February,she collected $3000 and $700 as advance fees.During the two-month period,she rendered services of $7500 .What is the balance in Unearned revenue at the end of February?

• A)Debit balance of $1200
• B)Credit balance of $1200
• C)Debit balance of $5000
• D)Credit balance of $5000

Comprehend the separation of powers within the U.S. government.

Identify the primary objectives of law and the balance it seeks to achieve in society.

Learn the foundational legal documents and principles that structure the U.S. judicial system, including the Constitution, the Supreme Court, and the concept of precedent.

Examine the role and powers of the executive branch, including executive orders and memoranda.

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Definitions:

Insurance Settlement

The amount paid by an insurer to a policyholder or claimant as resolution for a filed claim.

Compounded Nominal Annual Rate

The rate of interest per year without taking into account the compounding within that year, often differing from the effective annual rate.

Effective Rate

The actual interest rate an individual earns or pays on an investment or loan, taking into account the effect of compounding.

Semi-annually Compounded

This refers to the process of applying interest to a principal balance twice a year, effectively increasing the amount of interest earned or paid over time.