The Unearned Revenue account of Melrose Incorporated began 2021 with a normal balance of $5,500 and ended 2021 with a normal balance of $16,000. During 2021, the Unearned Revenue account was credited for $19,000 that Melrose will earn later. Based on these facts, how much revenue did Melrose earn in 2021? OA. $8,500 OB. $19,000 OC. $29,500 O D. SO GEITE

The Unearned Revenue account of Melrose Incorporated began 2021 with a normal balance of $5,500 and ended 2021 with a normal balance of $16,000. During 2021, the Unearned Revenue account was credited for $19,000 that Melrose will earn later. Based on these facts, how much revenue did Melrose earn in 2021? OA. $8,500 OB. $19,000 OC. $29,500 O D. SO GEITE

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The Unearned Revenue account of Melrose Incorporated began 2021 with a normal balance of $5,500 and ended 2021 with a normal balance of $16,000. During 2021, the Unearned Revenue
account was credited for $19,000 that Melrose will earn later. Based on these facts, how much revenue did Melrose eam in 2021?
OA. $8,500
OB. $19,000
OC. $29,500
OD. $0
OU

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