5

On november 1, 2016, taylor signed a one-year contract to provide handyman services on an as-needed basis to king associates, with the contract to start immediately. King agreed to pay taylor $5, 280 for the one-year period. Taylor is confident that king will pay that amount, but payment is not scheduled to occur until 2017. taylor should recognize revenue in 2016 in the amount of $0 $2, 640 $880 $5, 280