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

---

Definitions:

Gilded Age

A term often used to describe the late 19th century in the United States, a period marked by rapid industrialization, economic growth, and ostentatious displays of wealth, alongside deep social inequalities.

Party Politics

The politics and policies promoted by political parties as they compete for control of government offices and influence over governmental decisions.

Popular-vote Landslides

Elections in which the winning candidate secures an overwhelmingly large percentage of the popular vote, highlighting significant public support.

Silver Mines

Geographical locations or sites where silver ore is extracted from the earth, often involving intense labor and significant environmental impact.