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What is the amount of Service Revenue

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Reference no: EM132653442

Problem - During 2019, Ocean Consulting had the following transactions with it clients (customers):

On February 1, 2019, the company received cash of $6,600 from clients in payment of their account balances as of December 31, 2018.

On November 1, 2019, the company received $3,600 cash as payments in advance for services to be performed in 2020.

The company received a total of $21,000 in cash for services that were performed during 2019.

The company sent bills totaling $5,600 to clients for services performed during 2019; this amount was unpaid as December 31, 2019.

What is the amount of Service Revenue that will be reported on the income statement for the year 2019?

a. $36,800

b. $33,200

c. $30,200

d. $26,600

Reference no: EM132653442

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