During 20B, New Company Earned Service Revenues Amounting to $200,000

Multiple Choice

During 20B, New Company earned service revenues amounting to $200,000, of which $120,000 were collected in cash; the balance will be collected in January 20C. The 20B statement of earnings of the company should report which of the following amounts for service revenues?

A) $120,000.
B) $200,000.
C) $320,000.
D) $80,000.