During 2019,Ocean Consulting Had the Following Transactions with It Clients

question 13

Multiple Choice

During 2019,Ocean Consulting had the following transactions with it clients (customers) : On February 1,2019,the company received cash of $10,000 from clients in payment of their account balances as of December 31,2018.
On November 1,2019,the company received $4,000 cash as payments in advance for services to be performed in 2020.
The company received a total of $26,000 in cash for services that were performed during 2019.
The company sent bills totaling $8,000 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)$38,000.
• B)$44,000.
• C)$48,000.
• D)$34,000.

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Definitions:

Debunking

The process of exposing false claims or myths, often revealing the truth through critical examination.

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A prominent sociologist known for his work in the sociology of knowledge, religion, and his conceptualization of the social construction of reality.

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