What amount of sales revenue did it recognize for the year

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Question - ABC Airlines requires all customers to pay for their flight tickets in advance. Assume ABC reports a liability for Unearned Revenue of $65,000 at the beginning of fiscal year 2018. At the end of the year, the liability balance is $50,000. If ABC collected cash of $780,000 for advance ticket sales during the year, what amount of sales revenue did it recognize for the year?

a. $765,000

b. $780,000

c. $795,000

d. $730,000

Reference no: EM132959030

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