How much will steeler gills report as consulting revenue, Corporate Finance

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How much will steeler gills report as consulting revenue

Problem

Steeler Gills Company received an advance payment of $156,000 for a consulting contract during the year. The balance in the Unearned Consulting Fees account at the beginning of the year was $15,000. At the end of the year, $8,000 was still unearned. How much will Steeler Gills report as Consulting Revenue on its income statement for the year?

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