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How much will be in the unearned revenue account on november

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Reference no: EM132936471

Problem 1: Based on financial calculations only and not any personal preferences, which of the following would rather have, or which will result in the highest collection of cash? Assume a 4% annual interest rate and compounding interest.

Option 1: $222 in three years
Option 2: $206 in one year
Option 3: $200 today
Option 4: $214 in two years

Problem 2: On January 1, 2021, Umbrella Insurance Company has collected $24,000 for multiple two-year insurance premiums and recorded the funds in Unearned Revenue. Umbrella records insurance revenue on a monthly basis. How much will be in the Unearned Revenue account on November 30, 2021?

Option 1: $2,000
Option 2: $11,000
Option 3: $22,000
Option 4: $13,000
Option 5: None of these

Reference no: EM132936471

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