Paramount Event Planning Services Collects Fees from Its Customers in Advance.On

Multiple Choice

Paramount Event Planning Services collects fees from its customers in advance.On January 1,2015,the balance of its Unearned Revenue account had a balance of $6,000 (Cr.) .During January and February,the company collected $3,000 and $1,000 as advance fees.During the two-month period,it rendered services of $6,500 related to the prepaid revenue.What is the balance in Unearned Revenue at the end of February?

A) debit balance of $6,000
B) credit balance of $6,000
C) debit balance of $3,500
D) credit balance of $3,500