At the begining of 2018, city levied $800,000 property taxes. It expects to collect $300,000 during 2018, $200,000 in January 2019, and the remaining amount in April 2019. Deferred revenue from this transaction is

a.

$300,000

b.

$500,000

c.

$100,000

d.

$400,000

Clear my choice