Scott’s Construction received a $1,200,000 check from Bowie…
Scott’s Construction received a $1,200,000 check from Bowie Corp. on August 1, 2025, for the construction of an office building that Scott’s Construction will complete evenly over the next twelve months. Scott’s Construction begins building on August 1, 2025. Scott prepares financial statements monthly. What will be the balance of the unearned revenue account as of March 1, 2026?