Question: please solve with very detailed steps. correct answer is provided solve for 7 Worldwide Resources, Inc. reported Sales Revenue of $840,000, on its 12/31/20X1 income


Worldwide Resources, Inc. reported Sales Revenue of $840,000, on its 12/31/20X1 income Statement. Worldwide provides you with the following information: During 20X1 the Sales Revenue account included the following items: beginning and eading "accounts receivable" of $43,200 and $37,600, respectively and beginning and ending "customer deposits" of $20.000 and $28.500, respectively. Hint: prepare journal entries \& T accounts! - In order to secure Worldwide's services, customens occasionally pay a deposit in advance of their senvices being provided. These advance payments are initially recorded on the balance shicet in the Customer Deposit account. When the services have been provided to the customer, the advance payment is thanferred cut of the Customer Deposit account and into Sales Revenue. Including the cash sales, what was the total cash collected from customers during the year was: A. $825,900 B. $830,900 C. $840,000 D. $854,100 During 20X1 the Sales Revenue account included the following items: beginning and ending "accounts receivable" of $43,200 and $37,600, respectively and beginning and ending "customer deposits" of $20,000 and $28.500, respectively. Hint: prepare journal entries \& T accounts! - In order to secure Worldwide's services, customers occasionally pay a deposit in advance of their services being provided. These advance payments are initially recorded on the balance sheet in the Customer Deposit account. When the services have been provided to the customer, the advance payment is traasferred out of the Customer Deposit account and into Sales Revenue. Including the cash sales, what was the total cash collected from customers during the year was: A. $825.900 B. $830.900 C. $840.000 D. $854.100 E. None of the above (
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