On December 31,2014,the Balance in Pinnacle Exploration Company's Unearned Revenue

Multiple Choice

On December 31,2014,the balance in Pinnacle Exploration Company's Unearned Revenue account was a credit of $8,000.In January,2015,the company received an advance payment of $14,000 from a new customer for services to be performed.By January 31,adjustments were made to recognize $7,000 of the revenue which had been earned during January.What was the balance in Unearned Revenue on January 31,2015?

A) $7,000 credit
B) $ 14,000 debit
C) $8,000 credit
D) $15,000 credit