The Xie Company reported a beginning balance of $3,200 and an ending balance of $4,400 in its Unearned Revenue account for 2013. During the year, $16,000 of revenue (previously unearned) was recognized. Considering only this information, how much cash was received from customers?
A)$16,000
B)$16,400
C)$17,200
D)$18,000

Question

Quizplus · Accepted Answer

$4,400 ending unearned revenue + $16,000 unearned revenue earned - $3,200 beginning unearned revenue = $17,200 received from customers

The Xie Company Reported a Beginning Balance of $3,200 and an Ending