Paramount Event Planning Services Collects Fees from Its Customers in Advance.On

question 115

Multiple Choice

Paramount Event Planning Services collects fees from its customers in advance.On January 1,2017,the balance of its Unearned Revenue account was $3,000 (CR) .During January and February,the company collected $4,000 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 $3,000
• B)credit balance of $3,000
• C)debit balance of $2,100
• D)credit balance of $2,100

---

Definitions:

Carbohydrate

Organic compounds, including sugars, starches, and cellulose, made up of carbon, hydrogen, and oxygen, serving as a major source of energy for living organisms.

Deoxyribose

A sugar derived from ribose by replacing a hydroxyl group with hydrogen, forming the backbone of DNA molecules.

DNA

The molecule that carries genetic instructions used in the growth, development, functioning, and reproduction of all living organisms.

Metabolism

The set of life-sustaining chemical reactions in organisms, including processes for converting food to energy, constructing cellular materials, and discarding waste.