On December 15, Alston contracted to perform services for a client, receiving $2,500 in advance. Alston recorded this receipt of cash as unearned revenue. As of December 31, Alston has completed $2,000 of the services. What adjusting entry should Alston make on December 31?
a) Debit Unearned Revenue $2,000; Credit Service Revenue $2,000
b) Debit Service Revenue $2,500; Credit Unearned Revenue $2,500
c) Debit Unearned Revenue $500; Credit Service Revenue $500
d) Debit Service Revenue $2,000; Credit Unearned Revenue $2,000
