Blindleia Care Corporation had the following selected transactions in September: 1. Collected $200 cash from customers for

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Blindleia Care Corporation had the following selected transactions in September:

1. Collected $200 cash from customers for services provided in August.

2. Collected $500 cash from customers for services provided in September.

3. Billed customers $600 for services provided in September.

4. Provided $100 services to customers who paid in advance in August.

5. Received $100 from customers in advance for services to be provided in October.

(a) Calculate revenue for the month of September using the accrual basis of accounting.

(b) Calculate revenue for the month of September using the cash basis of accounting.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For  answer-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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