Answered

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During 2016, Sigma Company earned service revenue amounting to $900,000, of which $695,000 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 $8,200. What amount should the 2016 income statement report for service revenues

Sagot :

abiolataiwo2015

Answer:

$900,000

Explanation:

Based on the information given we were told that During the year 2016, the Company earned service revenue that was amounting to the amount of $900,000 which means that the amount that the year 2016 income statement should report for service revenues is the amount of $900,000 which was the service revenue that was earned by the company in year 2016.

Therefore the amount 2016 income statement

should report for service revenues will be $900,000.

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