ABC Airlines requires all customers to pay for their flight tickets in advance. Assume ABC reports a liability for Unearned Revenue of $50,000 at the start of fiscal year 2020. At the end of the year, the liability balance is $65,000. If ABC collected cash of $780,000 for advance ticket sales during the year, what amount of sales revenue did it recognize for the year? O a. $765,000 O b.$780,000 O c. $795,000 O d. $730,000 A Moving to another question will save this response. «< Question 23 of 28 > 10:42 AM re to search 5/5/2021

ABC Airlines requires all customers to pay for their flight tickets in advance. Assume ABC reports a liability for Unearned Revenue of $50,000 at the start of fiscal year 2020. At the end of the year, the liability balance is $65,000. If ABC collected cash of $780,000 for advance ticket sales during the year, what amount of sales revenue did it recognize for the year? O a. $765,000 O b.$780,000 O c. $795,000 O d. $730,000 A Moving to another question will save this response. «< Question 23 of 28 > 10:42 AM re to search 5/5/2021

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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71. Sbject :- Accounting
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