During 2018, Gibson Network, Inc., which designs network servers, earned revenues of $700 million. Expenses totaled $600 million. Gibson collected all but $21 million of the revenues and paid $620 million on its expenses. Read the requirements. Requirement a. Under accrual accounting, what amount of revenue should Gibson report for 2018? How does the revenue principle help to answer this question? The amount of revenue that should be reported for the year is $ million. i Requirements a. Under accrual accounting, what amount of revenue should Gibson report for 2018? How does the revenue principle help to answer this question? b. Under accrual accounting, what amount of total expense should Gibson report for 2018? Which accounting principle helps to answer this question? c. Redo parts a and b using the cash basis. Explain how the accrual basis differs from the cash basis. d. Which financial statement reports revenues and expenses? Which statement reports cash receipts and cash payments? Print Done