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On December 10, 2013 Peach Inc

Question 140

Multiple Choice

On December 10, 2013 Peach Inc.received a cheque for $60,000 from a customer for services that Peach will be performing in December 2013 and January 2014.By December 31, 2013, Peach had earned 40% of that amount.Assuming the appropriate year end adjustments were made, the 2013 balance in Peach's Unearned Revenue account will be


A) $60,000.
B) $36,000.
C) $24,000.
D) zero.

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