In 2017, a Major Drug Company Agreed to Give a Not-For-Profit

Multiple Choice

In 2017, a major drug company agreed to give a not-for-profit private college $420,000 to perform testing of a new drug. An advance payment of $335,000 was received in 2017. The college was to receive $1,500 per individual test. In 2017, the college completed 130 tests. How much revenue should the college report for 2017?

A) $ 195,000
B) $ 200,000
C) $ 335,000
D) $ 420,000