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:

Preoperative Management

The care and preparations undertaken before a surgical procedure to ensure the best possible outcome for the patient.

Postoperative Management

Refers to the care and treatment provided to a patient after undergoing surgical procedure, aiming at promoting recovery and preventing complications.

Sterile Procedure

A medical practice conducted under conditions designed to prevent contamination by pathogens.

Axillary Region

An anatomical area under the shoulder joint where the arm connects to the body, commonly referred to as the armpit.