Patricia Event Planning Service collects fees from their customers in advance. On January 1, 2015,...
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Accounting
Patricia Event Planning Service collects fees from their customers in advance. On January 1, 2015, the balance of her Unearned Revenue account had a balance of $6,000 (Cr.). During January and February, she collected $3,000 and $1,000 as advance fees. During the twomonth period, she rendered services of $6,500. What is the balance in Unearned Revenue at the end of February?
A. Debit balance of $3,500
B. Credit balance of $6,000
C. Credit balance of $3,500
D. Debit balance of $6,000
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