The following transactions occurred for Krauss Co. in March of 2016:

Services were provided in March to customers who paid Krauss cash of $15,000.

Services of $25,000 were provided by Krauss to customers in March. The invoices will be sent in April of 2016.

Krauss received cash of $5,000 from customers for services that will be provided in April of 2016.

Krauss received cash of $25,000 from customers paying on their open accounts.

The amount of revenue to be recognized in March of 2016 is:

Question 5 options:

	$45,000
	$70,000
	$40,000
	$20,000
	$15,000