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During the year ending December 3 1 , 2 0 2 2 , Transatlantic Company earned revenues amounting to $ 8 0 0 , 0

During the year ending December 31,2022, Transatlantic Company earned revenues amounting to $800,000, of which $645,000 was collected in cash; the balance will be collected in February, 2023. Also, in 2022, cash was collected from customers before the delivery of goods/services totaling $11,000. What amount should the 2022 income statement of Transatlantic Company report for service revenue?

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