Toddler Care Co. offers three payment plans on its twelve-month contracts. Information on the three plans and the number of children enrolled in each plan for the September 1, 2006 through August 31, 2007 contract year follows:
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|
Plan |
Initial payment per child |
Monthly fees per child |
Number of children |
|
#1 |
$500 |
$ — |
15 |
|
#2 |
200 |
30 |
12 |
|
#3 |
— |
50 |
9 |
|
36 |
Toddler received $9,900 of initial payments on September 1, 2006, and $3,240 of monthly fees during the period September 1 through December 31, 2006. In its December 31, 2006 balance sheet, what amount should Toddler report as deferred revenues?
- $3,300
- $4,380
- $6,600
- $9,900