On February 1, Results Income Tax Service received a $2,000 cash retainer for tax preparation services to be rendered equally over the next 4 months. The full amount was credited to the liability account Unearned Revenue. Assuming that the revenue is earned equally over the 4-month period, what balance would be reported on the February 28 balance sheet for Unearned Revenue?

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The Answer of On February 1, Results Income Tax Service received a $2,000 cash retainer for tax preparation services to be rendered equally over the next 4 months. The full amount was credited to the liability account Unearned Revenue. Assuming that the revenue is earned equally over the 4-month period, what balance would be reported on the February 28 balance sheet for Unearned Revenue?

On February 1, Results Income Tax Service Received a $2,000