Business, 26.02.2022 18:50 ken3484

Bramble Corp. 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 $964000 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 $236000 at December 31, 2019. Outstanding service contracts at December 31, 2019 expire as follows: During 2020 During 2021 During 2022 $205000 $318000 $138000 What amount should be reported as unearned service contract revenues in Bramble's December 31, 2019 balance sheet

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Bramble Corp. sells major household appliance service contracts for cash. The service contracts are...