During the month of April, Simpson Co. had cash receipts from customers of $170,000. Expenses totaled $156,000, and accrual basis net income was $42,000. There were no gains or losses during the month.
Required:
(a) Calculate the revenues for Simpson Co. for April. (Omit the "$" sign in your response.)
Revenues $
(b) Is the cash receipts and revenues equal?