Kingman Consulting uses the cash basis of accounting and a fiscal year ending December 31. Beginning on September 1, 2016, Kingman performs services for Renfro International at a rate of $5900 per month. On February 12, 2017, Renfro pays Kingman $29500 in full for all services rendered from September 1, 2016 to January 31, 2017. Kingman understated revenues by ___ on its year-end financial statement. $5900 $23600 $29500 $17700