Baltimore Company reported revenue of $124,000 on its 2014 income statement.The balance in its Uunearned Rrevenue account was $6,000 at the beginning of the year start of 2014 and $2,000 at the end of the year.Based on this information alone,the amount of cash that Baltimore collected from customers for 2014 was $120,000 during the year.

Question

Quizplus · Accepted Answer

Beginning balance + Revenue recognized on account - Cash collections from customers = Ending balance

Baltimore Company Reported Revenue of $124,000 on Its 2014 Income