In class we discussed the contingent liabilities of Boeing arising from the 737 Max grounding in 2019. In their 2020 annual report, they disclose the following: The following table summarizes changes in the 737 MAX customer concessions and other considerations liability during 2020. 2020 2019 Beginning balance - January 1 $7,389 Initial liability recorded in the second quarter of 2019 $6,110 Reductions for payments made (2,188) (1,237) Reductions for concessions and other in-kind considerations (162) (133) Changes in estimates 498 2,649 Ending balance - December 31 $5,537 $7,389 Which of the following best summarizes the $2,188 entry for "reductions for payments made" in 2020? Balance Sheet Income Statement Assets = Liabilities + Equity Revenues Expenses NI A -2,188 Cash -2,188 RE +2,188 Grounding -2,188 B -2,188 A/R -2,188 Cash D -2,188 A/R C A B D -2,188 737 Max Grounding Reserve -2,188 AOCI expense -2,188 RE -2,188 Revenues -2,188