In its accrual-basis income statement for the year ended December 31, 2014, Dart Company reported revenue of

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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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Financial Reporting and Analysis

ISBN: 978-0078025679

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Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon

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Question Posted: Sep 10, 2014 09:13 AM

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In its accrual-basis income statement for the year ended December 31, 2014, Dart Company reported revenue of

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