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This Question: 6 pts 11 of 11 (2 complete)> This Quiz: 100 pts possible Question Help * Mercury, Inc. sells tickets in advance for its weekly productions and records the proceeds as Uneaned Revenue. At the end of each month, the company makes an adjusting entry to account for the tickets used during the month (ticket revenue.) On March 1, the Unearned Revenue account had a credit balance of $2,000. During March, Mercury sold 600 tickets at S20 each, and 550 tickets were used during the month. What is the balance in Unearned Revenue at the end of March? OA. O B. O C. O D. debit balance of $3,000 debit balance of $2,000 credit balance of $2,000 credit balance of $3,000

Explanation / Answer

D. credit balance of $3,000

Beginning balance in Unearned Revenue $2,000 Add: Value of tickets unused on March 31[(600 - 550) * $20] $1,000 Ending balance in Unearned Revenue $3,000

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