TigrSoft provided $17,000 of services to customers in the month of March 2017. On March 31, 2017,
Question:
TigrSoft provided $17,000 of services to customers in the month of March 2017. On March 31, 2017, TigrSoft has not yet billed or collected payment for the $17,000. On April 16, $12,000 of these were collected.
a) Using the accrual basis of accounting, explain whether TigrSoft earned revenue of $17,000 as of March 31, 2017.
b) Record the adjusting journal entry on March 31, 2017.
c) Record the journal entry on April 16, 2017.
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a TigrSoft has earned the 17000 of revenue because the company has provided the se...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume 1
ISBN: 9781259259807
15th Canadian Edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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