Question

In its accrual-basis income statement for the year ended December 31, 2014, Dart Company reported revenue of $1,750,000. Additional information follows:
Accounts receivable 12/31/13 ........... $375,000
Uncollectible accounts written off during 2014 .... 20,000
Accounts receivable 12/31/14 ............ 505,000

Required:
Under the cash basis of income determination, how much should Dart report as revenue for 2014?



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  • CreatedSeptember 10, 2014
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