During 2015, Maverick Law Firm had the following transactions with it clients (customers):
-On February 1, 2015, the company received cash of $5,000 from clients in payment of their account balances as of December 31, 2014.
-On November 1, 2015, the company received $2,000 cash as payments in advance for law services to be performed in 2016.
-The company received a total of $13,000 in cash for law services that were performed during 2015.
-The company sent bills totaling $4,000 to clients for services performed during 2015; this amount was unpaid as December 31, 2015.
-Use the information above to answer the following question.What is the amount of Law Services Revenue that will be reported on the income statement for the year 2015?
A) $19,000.
B) $22,000.
C) $24,000.
D) $17,000.

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The Answer of During 2015, Maverick Law Firm had the following transactions with it clients (customers):
-On February 1, 2015, the company received cash of $5,000 from clients in payment of their account balances as of December 31, 2014.
-On November 1, 2015, the company received $2,000 cash as payments in advance for law services to be performed in 2016.
-The company received a total of $13,000 in cash for law services that were performed during 2015.
-The company sent bills totaling $4,000 to clients for services performed during 2015; this amount was unpaid as December 31, 2015.
-Use the information above to answer the following question.What is the amount of Law Services Revenue that will be reported on the income statement for the year 2015?
A) $19,000.
B) $22,000.
C) $24,000.
D) $17,000.

During 2015, Maverick Law Firm Had the Following Transactions with It