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Kingman Consulting uses the cash basis of accounting and a fiscal year ending December 31. Beginning on September 1, 2016, Kingman performs services for Renfro International at a rate of $4100 per month. On February 12, 2017, Renfro pays Kingman $20500 in full for all services rendered from September 1, 2016 to January 31, 2017. Kingman understated revenues by ________ on its year-end financial statement.$16400$4100$20500$12300
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