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During 2015, Maverick Law Firm had the following transactions with it clientsOn February 1, 2015, the company received cash of $5,800 from clients in payment of their account balances as of December 31, 2014.

  • On November 1, 2015, the company received $2,800 cash as payments in advance for law services to be performed in 2016. 
  • The company received a total of $17,000 in cash for law services that were performed during 2015. 
  • The company sent bills totaling $4,800 to clients for services performed during 2015; this amount was unpaid as December 31, 2015.

What is the amount of Law Services Revenue that will be reported on the income statement for the year 2015? 

 

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