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Chapter 3 Homework instructions Ihelp Question 9(af 10) Save & Ex Submit 1.00 points Moslert Music Cormpany had the folowing transecions in March: a. Sokd music leesons to cuslomers for $13,350, received 58,350 in cash end the rest on account b. Paid S800 in wages fer the month. RnoaNad a S370 bill for utilties that will be pad įn Apri. d. Recelvad $4,200 from customers as deposits on music lessons to be givan in Apri 1. Basnd on tha information above, prepare a cash basis and an accrual basis income staramant MOSTERT MUSIC COMPANY MOSTERT MUSIC COM Cash Basis Income Statement Accrual Basis Income Statement Sales Sales Custorner Deposits Expenscs Total Ravnnues Salaries ard Wages Expansa Ueiities Expense Expenses Salaries and Wages Paid Cash Income Total Exparses Net Income References eBook & Resources Worksheet Difficulty: 1 Easy Learning Objective: 03-02 Explain and apply the revenue and expense recognition principlas.

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