Question
At the beginning of 2019, Photobomb Explosives Corp. had a balance of $23,000 in its Deferred Demolition Revenue account. During 2019, Photobomb Explosives Corp. received
At the beginning of 2019, Photobomb Explosives Corp. had a balance of $23,000 in its Deferred Demolition Revenue account. During 2019, Photobomb Explosives Corp. received additional cash prepayments totaling $156,800 by customers for demolition jobs to be completed later. The cash prepayments were correctly accounted for with an increase in Deferred Demolition Revenue. As of the companys year end of December 31, 2019, Photobomb had an ending balance $143,500 in its Deferred Demolition Revenue on December 31, 2019. How much Photobomb should transfer from Deferred Demolition Revenue to Demolition Revenue on Dec 31, 2019?
143500
36300
9700
156800
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