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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).
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 $3,000 and $500 as advance fees, respectively. During the two - month period, it performed services of $6,500 related to the deferred revenue. What is the balance in Unearned Revenue at the end of February? O A. debit balance of $2,000 O B. debit balance of $5,000 O C. credit balance of $5,000 D. credit balance of $2,000
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