Education for All Sells Tickets in Advance for Their Weekly

question 127

Multiple Choice

Education for All sells tickets in advance for their weekly productions and records the proceeds as Unearned Revenue. At the end of each month, Education for All makes an adjusting entry to account for the tickets used during the month (ticket revenue.) On March 1, the Unearned Revenue account had a credit balance of $4,000. During March, they sold 300 tickets at $20 each and 250 tickets were used during the month. What is the balance in Unearned Revenue at the end of March?

• A)Credit balance of $5,000
• B)Debit balance of $4,000
• C)Credit balance of $1,000
• D)Debit balance of $5,000

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Definitions:

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Alterations or misrepresentations of reality or perception.

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A variable used in research to classify subjects based on social or professional status, often affecting the subject's perspectives or responses.

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An individual's personal sense of their own gender, which may or may not align with the sex they were assigned at birth.

Status Variables

Variables that indicate or reflect an individual's social or professional position, often used in research to examine effects of social status on various outcomes.