1. At the beginning of the month, the unearned revenue account has a balance of $12,000. If at the end of the month, the company still has not earned $4,800 of this amount , what should be the balance in the unearned revenue account on the balance sheet at the end of the month?

   1. 12,000

   2. 7,200

   3. 4,800

   4. 0

2. A company received $5,000 cash in advance from a customer in October for services to be performed in November. How much revenue should be recognized on the income statement by the company during the month of October

   1. 5,000

   2. 2,500

   3. 4,000

   4. 0