Patricia Event Planning Service Collects Fees from Their Customers in Advance

question 37

Multiple Choice

Patricia Event Planning Service collects fees from their customers in advance. On January 1, 2015, the balance of her Unearned Revenue account had a balance of $6,000 (Cr.) . During January and February, she collected $3,000 and $1,000 as advance fees. During the two-month period, she rendered services of $6,500. What is the balance in Unearned Revenue at the end of February?

• A)Debit balance of $6,000
• B)Credit balance of $6,000
• C)Debit balance of $3,500
• D)Credit balance of $3,500

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