Rathbone Corp $\begin{array} { l r } \text { During 2021 } & \$ 140,000 \\\text { During 2022 } & 210,000 \\\text { During 2023 } & 99,000\end{array}$

Multiple Choice

Rathbone Corp. sells major household appliance service contracts for cash. The service contracts are for a one-year, two-year, or three-year period. Cash receipts from contracts are credited to Unearned Service Revenues. This account had a balance of $ 1,100,000 at December 31, 2020, before year-end adjustment. Service contract costs are charged as incurred to the Service Contract Expense account, which had a balance of $ 325,000 at December 31, 2020.
Service contracts still outstanding at December 31, 2020, expire as follows:
$\begin{array} { l r } \text { During 2021 } & \$ 140,000 \\\text { During 2022 } & 210,000 \\\text { During 2023 } & 99,000\end{array}$
What amount should be reported as Unearned Service Revenues on Rathbone's December 31, 2020, statement of financial position?

A) $ 774,000
B) $ 325,000
C) $ 449,000
D) $ 124,000