Foley Marketing Received $60,000 from a Customer on January 2

Multiple Choice

Foley Marketing received $60,000 from a customer on January 2, 2022 to be on retainer for the next two years.The appropriate journal entry to recognize revenue at Foley's fiscal year-end on December 31, 2022 would be:

A) Dr Unearned Service Revenue $30,000 Cr Service Revenue $30,000
B) Dr Service Revenue $30,000 Cr Unearned Service Revenue $30,000
C) Dr Service Revenue $30,000 Cr Cash $30,000
D) Dr Unearned Service Revenue $30,000 Cr Cash $30,000