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During 2019, Taylor Company earned service revenue amounting to $820,000, of which $655,000 was collected in cash; the balance will be collected in January 2020.

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During 2019, Taylor Company earned service revenue amounting to $820,000, of which $655,000 was collected in cash; the balance will be collected in January 2020. Also in 2019, there were collections of cash prior to the delivery of goods/services totaling $10,400. What amount should the 2019 income statement report for service revenue? Multiple Choice $820,000 O $655,000 $690,000 $165,000

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