Describe structure of worksheet and accounting information

Reference no: EM131342806

1. What is the relationship between the accounting cycle and the worksheet?

2. Describe the structure of the worksheet and the accounting information it contains.

3. ACCRUAL- AND CASH-BASIS REVENUE McDonald Music sells used CDs for $2.00 each. During the month of April, McDonald Music sold 21,200 CDs for cash and 7,300 CDs on credit. McDonald's cash collections in April included the $42,400 for the 21,200 CDs sold for cash, $11,800 for CDs sold on credit during the previous month, and $8,100 for CDs sold on credit during April.

Reference no: EM131342806

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