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The News Gazelle has two customers: Tom and Jerry. Tom prepaid $240 for 12-month subscription on 08/01/2016. Jerry prepaid $150 for 6-month subscription on 09/01/2016.

The News Gazelle has two customers: Tom and Jerry. Tom prepaid $240 for 12-month subscription on 08/01/2016. Jerry prepaid $150 for 6-month subscription on 09/01/2016. The New Gazelle has its fiscal year ended 12/31/2016. What would be the balance of deferred revenue on 12/31/2016?

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