7

Bramble Corp.sells major household appliance service contracts for cash. The service contracts are for a one-year, two year, or three year period, Cash receipts from contracts are credited to uneared service contract revenues. This account had a balance of $964000 at December 31, 2019 before year-end adjustment Service contract costs are charged as incurred to the service contract expense account, which had a balance of $236000 at December 31, 2019. Outstanding service contracts at December 31, 2019 expire as follows: During 2020 $205000 During 2021 $318000 During 2022 $138000 What amount should be reported as unearned service contract revenues in Bramble's December 31, 2019 balance sheet? $728000 $456000 $523000 $661000