Answer:
The balance in Unearned Revenue at the end of March is $6,000
Explanation:
The computation of the unearned revenue balance at the end of March is shown below:
= Credit balance of unearned revenue + amount received from the sale of tickets - using the amount
= $5,000 + $8,000 - $7,000
= $6,000
The amount received equals to
= Number of tickets × selling price
= 400 tickets × $20
= $8,000
And, the using amount equal to
= Number of tickets used × selling price
= 350 tickets × $20
=$7,000
