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During 2016, Sigma Company earned service revenue amounting to $860,000, of which $675,000 was collected...

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Accounting

During 2016, Sigma Company earned service revenue amounting to $860,000, of which $675,000 was collected in cash; the balance will be collected in January 2017. Also in 2016 there were collections of cash prior to the delivery of goods/services totaling $10,600. What amount should the 2016 income statement report for service revenues?

$860,000

$185,000

$675,000

$730,000

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