View Policies Current Attempt in Progress Coronado Industries sells major household appliance service contracts for cash. The service contracts are for a one-year, two-year, or three-year period. Cash receipts from contracts are credited to unearned service contract revenues. This account had a balance of $965000 at December 31, 2019 before year-end adjustment Service contract costs are charged as incurred to the service contract expense account, which had a balance of $243000 at December 31, 2019. Outstanding service contracts at December 31. 2019 expire as follows: During 2020 $198000 During 2021 $318000 During 2022 $142000 What amount should be reported as unearned service contract revenues in Coronado's December 31, 2019 balance sheet? $460000 $658000 $722000, $516000 Save for Later Attempts: 0 of 1 used Submit