Solution-Question - Reporting Cash Basis versus Accrual

Question - Reporting Cash Basis versus Accrual Basis Income

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Reference no: EM132603012

Question - Reporting Cash Basis versus Accrual Basis Income

Mostert Music Company had the following transactions in March:

a. Sold music lessons to customers for $10,000; received $6,000 in cash and the rest on account.

b. Paid $600 in wages for the month.

c. Received a $200 bill for utilities that will be paid in April.

d. Received $1,000 from customers as deposits on music lessons to be given in April.

Complete the statements for March.

Reference no: EM132603012

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Question - Reporting Cash Basis versus Accrual Basis Income : Question - Reporting Cash Basis versus Accrual Basis Income. Sold music lessons to customers for $10,000; received $6,000 in cash and the rest on account

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Question - Reporting Cash Basis versus Accrual Basis Income

Reference no: EM132603012

Reference no: EM132603012

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