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

question 134

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 $5,000 (CR) .During January and February,the company collected $2,000 and $700 as advance fees,respectively.During the two-month period,it performed services of $4,500 related to the deferred revenue.What is the balance in Unearned Revenue at the end of February?

• A) debit balance of $5,000
• B) credit balance of $5,000
• C) debit balance of $3,200
• D) credit balance of $3,200

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Definitions:

Alternatives

Options or choices available in any decision-making situation.

Reinforcement

The process of providing stimuli following responses that increase the frequency of the responses.

Behavior Frequency

The rate at which a specific behavior occurs over a designated period of time.

Anger And Resentment

Emotional states where anger involves strong feelings of displeasure, and resentment holds persistent bitterness against someone or something.