Question: Bob started a pool cleaning business on the first day
Bob started a pool cleaning business on the first day of March. He cleaned 15 pools in March and earned $225 for each cleaning. Most of his customers paid him at the time of cleaning, but one customer, Jeremy Thompson, asked Bob to mail him a bill and he would then send Bob a check. Bob sent Jeremy an invoice but had not yet received the payment by the end of March. When Bob prepares his first monthly income statement, how much will the statement show for revenue for the month ended March 31? How much will be shown on the statement of cash flows as cash collected from customers for the first month?
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