During 2024, Deham Company earned service revenue amounting…
During 2024, Deham Company earned service revenue amounting to $440,000, of which $380,000 was collected in cash; the balance will be collected in January, 2025. Also, in 2024, there were collections of cash prior to the delivery of goods and services totalling $30,000. What amount should the 2024 income statement report for service revenue?