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Surfing Is a Natural Art, Inc., collected $24,000 in October 2004 from customers in exchange for a 12-month subscription to its monthly magazine Surfing Times. The October issue was the first issue of the subscription. How much revenue should the company report on its income statement for the year ended December 31,2004 ? $6,000 $12,000 $9,000 No revenue will be recognized until all the magazines are delivered