2. On April 30, Year 2, Wright Enterprise, which sells Business In-Depth Newspapers, receives $1,800 toward newspaper subscription for the next 18 months. Wright Enterprise is a small company and hence uses cash-basis accounting. Assume that December 31 is the accounting year-end for Wright Enterprise. On December 31, Year 2, how much revenue will it recognize from the newspaper subscription on April 30, Year 2, at year-end?

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Since Wright Enterprise uses cashbasis accounting revenue is ... View the full answer