The following information describes the company's sales for the year: A sale for $120,000 was made on September 14. The $120,000 cash for the sale was collected in full on September 14. The work associated with the sale has not yet begun, but is expected to be completed next year. A sale for $220,000 was made on November 17. No cash has been collected as of the end of the year, and all of the cash is expected to be collected early next year. As of the end of the year, $60,000 of the work associated with the sale has been completed. How much total revenue should be recognized for this year? 120,000 60,000 340,000 0 220,000