In: Accounting
On December 31, 2018 the balance in Energy Exploration Company's Unearned Revenue account was a credit of
$7,000. In January, 2019, the company received an advance payment of $13,000 from a new customer for services to be performed. By January 31, adjustments were made to recognize $6,000 of the revenue that had been earned during January. What was the balance in Unearned Revenue on January 31, 2019?
A.$14,000credit
B.$6,000credit
C.$13,000 debit
D.$7,000 credit