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What the company profit for the customer job in the july

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Problem 1: A company provided consulting services to a customer on July 27. The company follows accrual basis of accounting. Assume that the company's only cost related to this project was $330 in Salaries Expense. On August 1, the company billed the customer for $600 for the consulting project. On August 21, the customer paid the company's invoice in full. If the company has a July 31 year end, the company's profit for the customer job in the July 31 financial statements would be:

Select one:

a. $930 profit
b. $0 profit
c. $270 profit
d. $330 loss
e. $600 profit

Reference no: EM132969558

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