QUESTION 23 Prior to preparing adjusting entries at year-end, Haven Media, a radio station, had a balance of $562,000 in advertising revenue. On December 12, Haven received $18,000 from an advertiser. This amount represented a payment in advance for 18 ads to be aired in the next sixty days. Haven recorded this receipt as uneared revenue. Through December 31, Haven Media had run 4 of these ads. What will the balance of advertising revenue be after Haven Media records the appropriate adjusting entry at year-end? a $18,000 b. $4.000 . $566,000 d. $14.000 e $1,000 QUESTION 24 Prior to preparing adjusting entries at year-end, Haven Media, a radio station, had a balance of 5562,000 in advertising revenue. On December 12, Haven received $18,000 from an advertiser. This amount represented a payment in advance for 18 ads to be aired in the next sixty days. Haven recorded this receipt as unearned revenue. Through December 31, Haven Media had run 4 of these ads. Which of the following will Haven Media present on its balance sheet at the end of the year? a Uneamed Revenue with a balance of $566,000 b. Uneamed Revenue with a balance of $18,000 Oo. Advertising Revenue with a balance of $566,000 d. Unearned Revenue with a balance of $14,000 10. Advertising Revenue with a balance of S14,000 QUESTION 25 Prior to preparing adjusting entries at year-ond, Haven Media, a radio station, had a balance of $562,000 in advertising revenue On December 12, Haven received $18,000 from an advertiser. This amount represented a payment in advance for 18 ads to be aired in the next sixty days. Haven recorded this receipt as uneared revenue. Through December 31. Haven Media had run 4 of these ads. Which of the following wil Haven Media present on its income statement for the year? a. Unearned Revenue with a balance of $14,000 b. Unearned Revenue with a balance of $18,000 c. Advertising Revenue with a balance of $14,000 d. Advertising Revenue with a balance of $566,000 Unoamned Revenue with a balance of $566,000