Homework Answers
Answer a
$ 180,000
Explanation:
In cash accounting, only cash received is taken into consideration.
Answer b
$ 210,000
Explanation:
In accrual basis, ash received is not important. Instead, revenue is recognized on the basis of services rendered. Also, bad debts will not be considered because we need to calculate the gross receipts.
In case of any doubt, please comment.
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