Multiple Choice =+B7B8 =+B2B8 =+B7B9 =+B7B8

c Unearned Fees D 1 2 3 4 5 6 7 8 9 10 11 Dec. 1 Dec. 8 1 Dec. 8 December Janua Dec. 31 12 Dec. 31 SO $2,400 40% 60% 2 400 Beginning balance Cash received from customers in advance for work to be performed in December and January. Portion of work completed as of December 31 Portion of work to be completed in January- Amount of revenue reported on the December 31 income statement Amount of Unearned Fees reported on the December 31 balance sheet Which formula in cell B12 correctly calculates the amount of Unearned Fees reported on the December 31 balance sheet? Multiple Choice O O O O