Sanders, Inc. used the accrual method of accounting. Based on the transactions below, what is the amount
Question:
Sanders, Inc. used the accrual method of accounting. Based on the transactions below, what is the amount of revenue recognized in March?
March 5: Received $1,200 from a customer, in payment of her accounts receivable from a sale in January.
March 14: Received $900 from a customer for services performed on that day.
March 19: Received $700 from a customer for services to be performed in April.
March 20: Received $5,000 cash contribution from the owner of the business.
March 24: Borrowed $1,500 from the bank, signing a 90-day promissory note.
March 30: Provided $500 services to a customer; the customer will pay in 30 days.
Group of answer choices
$3,300
$1,400
$2,900
$2,100
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver