In Caymus Companys December 31 trial balance, a credit balance of $31,500 appears in Unearned Fee Income. This amount represents cash received from a customer on November 1 covering work to be performed by Caymus in November through January. At December 31, Caymus had earned $10,500 of the amount received on November 1. Which of the following would be used to adjust the Unearned Fees Income account on December 31?

Multiple Choice

• Debit Unearned Fee Income for $20,000.

• Debit Fees Income for $10,500.

• Credit Fees Income for $10,500.

• Debit Unearned Fee Income for $31,500.