Carthage Caravans Rents Storage Units

Multiple Choice

Carthage Caravans rents storage units. In the first month of operation, they collected cash and credit card receipts of $4,140 and during the month they rented thirty-six (36) storage units. All storage units rent out at $115.00 per month. They also received non-refundable deposits of $23.00 each on another five storage units. For two of those deposits the customers had not shown up, and the company did not refund the deposits; the other three deposits were for the following month. The appropriate amount for them to recognize as revenue for their first month is:

A) $4,140
B) $4,163
C) $4,186
D) $4,255