Peaceful Home provides house-sitting for people while they are away on vacation. Some of its customers pay
Question:
Peaceful Home provides house-sitting for people while they are away on vacation.
Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. As of the end of the year, Peaceful Home has collected $1,000 from cash-paying customers. Peaceful Homes remaining customers owe the business $1,400.
How much service revenue would Peaceful Home have for the year under the
a. Cash basis?
b. Accrual basis?
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Related Book For 
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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