Metro Event Planning Services Collects Fees from Its Customers in Advance

question 74

Multiple Choice

Metro Event Planning Services collects fees from its customers in advance. On January 1, 2019, the balance of its Unearned Revenue account was $4,000 (CR) . During January and February, the company collected $2,000 and $600 as advance fees. During the two-month period, it performed services of $5,500 related to the deferred revenue. What is the balance in Unearned Revenue at the end of February?

• A) debit balance of $4,000
• B) credit balance of $4,000
• C) debit balance of $1,100
• D) credit balance of $1,100

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Definitions:

Inflammation

Part of innate immunity: a local response to tissue damage or infection; characterized by redness, warmth, swelling, and pain.

Allergies

Immune system reactions to certain foreign substances perceived as harmful.

Healthy Adult

An individual in the mature stage of life exhibiting physical, mental, and social well-being.

Innate Immunity

The first line of defense in the immune system, consisting of physical, chemical, and cellular defenses against pathogens that are present from birth.