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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
On December 31, 2016, the balance in Pinnacle Exploration Company's Unearned Revenue account was a credit of $6,000. In January, 2017, the company received an advance payment of $12,000 from a new customer for services to be performed. By January 31, adjustments were made to recognize $7,000 of the revenue that had been earned during January. What was the balance in Unearned Revenue on January 31, 2017?
A) $12,000 debit
B) $7,000 credit
C) $6,000 credit
D) $11,000 credit
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
7 years ago
I'm liking this Slight Smile
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