On October 11, your firm which is on the accrual basis, accepts a $7,500 advance to create a $15,000 video for a client and books the advance in Unearned Revenue. At year-end, 20% of the work has been completed. What adjusting entry do you record?

A. Unearned Revenue $3,000 Revenue

$3,000

B. Cash Revenue

$2,000

$3,000

C. Revenue Unearned Revenue

$3,000

$1,500

D. Unearned Revenue $1,500 Revenue

$1,500