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During its first year of operations, Airplane Builders Inc. invoiced customers $20,000,000 for airplanes completed...

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During its first year of operations, Airplane Builders Inc. invoiced customers $20,000,000 for airplanes completed and delivered during the year. The company received payments of $12,000,000 from the invoiced customers. The company also received deposits from customers totaling $5,000,000 for airplanes to be completed and delivered the following year. Based on these transactions, at year-end the company will most likely report: A. Sales revenue of $25,000,000 on the income statement. B. Deferred revenue of $5,000,000 in current assets. C. Accounts receivable of $8,000,000 in current assets. OD. Accounts receivable of $13,000,000 in current assets

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