.

Lyco Company is a service firm. The company showed the following activities

for the current month:

Provided services for a client who will pay $82,000 next month.

Provided services for a client and received $30,000 cash.

Received a $10,000 advance payment for services to be provided next

month.

Used $7,000 of office supplies to provide services.

Employees were owed $25,000 for work performed in the current month.

What is the accrual basis income for the current month?

A)$90,000

B)$80,000

C)$72,000

D)$23,000