Show the computation of revenue on cash basis


Suppose, revenue shown on the accrual basis income statement was $200,000. Accounts receivable were $5,000 on January 1, 2008 and $3,000 on December 31, 2008. During the year, we received $7,000 in advance of performing the services. These services will be performed next year in 2009. Can you show the computation of revenue for 2008 on cash basis?

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Accounting Basics: Show the computation of revenue on cash basis
Reference No:- TGS078231

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