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Find what was balance of unearned service revenue account

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Reference no: EM132820822

Problem 1: The Unearned Service Revenue account shows an adjusted end-of-year balance of P300,000. The adjusting entry to Unearned Service Revenue indicated P400,000 in Service Revenue was earned during the accounting period. What was the balance of the Unearned Service Revenue account before the adjusting entry was recorded?

Option 1: P100,000 debit
Option 2: P700,000 credit
Option 3: P100,000 credit
Option 4: P700,000 debit

Reference no: EM132820822

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