point 1. Question 1 An Illinois consulting firm had accounts receivable of $70,000 on December 31, 2015. During year 2016, the consulting firm collected $30,000 in fees from its clients. On December 31, 2016, it had accounts receivable of $100,000. On an accrual basis, what was the consulting firm's revenue for the year 2016?

Answer rating: 100% (QA)

Heres how to calculate the consulting firms revenue for 2016 on an accrual basis 1 Use the accountin... View the full answer