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During 2021, Wonder Inc. received the following payments for services. All services are provided equally over the term of the agreement. April 1: Received $150,000
During 2021, Wonder Inc. received the following payments for services. All services are provided equally over the term of the agreement. April 1: Received $150,000 in advance to provide 10 months of services. July 1: Received $72,000 in advance to provide 6 months of services. August 1: Received $90,000 in advance to provide 8 months of services. November 1: Received $30,000 in advance to provide 4 months of services. What was the balance in Unearned Revenue on December 31, 2021?
$41,250 | |
| $342,000 |
| $278,250 |
| $63,750 |
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