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Tannin Bus Co. sold 8,000 tickets on 1/5/2020 at $20 each for four-month period from 1/5/2020 to 31/8/2020 Assuming that Tannin Co. prepares the financial

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Tannin Bus Co. sold 8,000 tickets on 1/5/2020 at $20 each for four-month period from 1/5/2020 to 31/8/2020 Assuming that Tannin Co. prepares the financial statements on 31/7/2020, the unearned ticket revenue should be reported at: O a $40,000 O b. $160,000 Oc $120,000 d. $80,000 FI

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