The Accounting Records for Patricia Event Planning Services Include the Following

question 176

Multiple Choice

The accounting records for Patricia Event Planning Services include the following select unadjusted balances on December 31,2016: Salaries Expense,$6,000;Service Revenue: $19,000;Unearned Revenue,$400;Supplies Expense,$600;Rent Expense,$300;Depreciation Expense-Equipment,$200.
During December,the company worked with a new client and provided event planning services for an upcoming event.It will receive the full amount of $2,100 when the event is completed in January 2017.As of the end of December 2016,it performed one-third of the services covered by the contract.The company made the accrual adjustments.The balance of Service Revenue,as shown on the adjusted trial balance,should be a ________.

• A)debit balance of $21,100
• B)credit balance of $19,000
• C)debit balance of $2,100
• D)credit balance of $19,700

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