On December 10, 2017 Peach Inc.received a cheque for $54,500 from a customer for services that Peach will be performing in December 2017 and January 2018.By December 31, 2017, Peach had earned 40% of that amount.Assuming the appropriate year-end adjustments were made, the 2017 balance in Peach's Unearned Revenue account will be

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By December 31, 2017, Peach had earned 40% of $54,500, which is $21,800. The remaining 60% ($32,700) is still unearned and will be recognized as revenue in January 2018. Therefore, the balance in the Unearned Revenue account at the end of 2017 is $32,700.