Timberland Company received advance payments from customers during 2012 of $240,000. At December 31, 2012, $20,000 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2012, what will the balances be in the Unearned Service Revenue and Service Revenue accounts? Unearned Service Revenue Service Revenue
A) $ 20,000 $220,000
B) $220,000 $ 20,000
C) $ 0 $240,000
D) $240,000 $ 0
A
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