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

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 income statement of the company should report which of the following amounts for service revenues?

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