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:

Retaliate

The act of returning a negative action with another negative action, often in the context of revenge or defense.

Family Resilience

The capacity of a family to withstand and bounce back from hardships and crises collectively.

Preventive Measures

Strategies or actions taken in advance to reduce the risk of harm or to prevent an undesirable outcome.

Suspected Abuse

A situation in which there are reasons to believe that someone, often a child or vulnerable adult, has been harmed or is at risk of harm.