Paramount Event Planning Services collects fees from its customers in advance.On January 1,2017,the balance of its Unearned Revenue account was $3,000 (CR) .During January and February,the company collected $4,000 and $600 as advance fees.During the two-month period,it performed services of $5,500 related to the deferred revenue.What is the balance in Unearned Revenue at the end of February?
A) debit balance of $3,000
B) credit balance of $3,000
C) debit balance of $2,100
D) credit balance of $2,100
Correct Answer:
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