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Answer: An interval is a range of values for a statistic.
Explanation:
For example, you might think that the mean of a data set falls somewhere between 10 and 100 (10 < μ < 100). That “somewhere between 5 and 15%” is an interval estimate.
Using the accrual method, the unearned revenue as of December 31 is $12,000.
<h3>What is Unearned revenue?</h3>
Unearned revenue can be defined as the amount a company received from their client for the service they are yet too rendered.
Since the company has received full balance for the services not yet provided. The unearned revenue as of December 31 will be $12,000.
Reason been that the amount that the client paid the company is for a year-long contract, hence the $12,000 represent a prepayment amount for the service the company is yet too rendered to their client
Thus, using the accrual method, the unearned revenue as of December 31 is $12,000.
Learn more about unearned revenue here:
brainly.com/question/5010039
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