During 2019, Ocean Consulting had the following transactions with it clients (customers):•On February 1, 2019, the company received cash of $6400 from clients in payment of their account balances as of December 31, 2018. •On November 1, 2019, the company received $3400 cash as payments in advance for services to be performed in 2020. •The company received a total of $20,000 in cash for services that were performed during 2019. •The company sent bills totaling $5400 to clients for services performed during 2019; this amount was unpaid as December 31, 2019. What is the amount of Service Revenue that will be reported on the income statement for the year 2019?
A. $35,200
B. $25,400
C. $28,800
D. $31,800
Answer: B
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