During 2016, Sigma Company earned service revenue amounting to $860,000, of which $675,000 was collected...
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Accounting
During 2016, Sigma Company earned service revenue amounting to $860,000, of which $675,000 was collected in cash; the balance will be collected in January 2017. Also in 2016 there were collections of cash prior to the delivery of goods/services totaling $10,600. What amount should the 2016 income statement report for service revenues?
$860,000
$185,000
$675,000
$730,000
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