Skechers Inc. calculated its cash receipts from customers as $30,800 and its cash payments for operating...

 

 

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Skechers Inc. calculated its cash receipts from customers as $30,800 and its cash payments for operating expenses as $22,000 for the year ended December 31. The beginning and ending balances of Accounts Receivable were $3,850 and $3,080, respectively. The beginning and ending balances of Accrued Expenses were $1,980 and $3,520, respectively. Required a. Calculate revenues on an accrual basis for the year. b. Calculate operating expenses on an accrual basis for the year. Skechers Inc. calculated its cash receipts from customers as $30,800 and its cash payments for operating expenses as $22,000 for the year ended December 31. The beginning and ending balances of Accounts Receivable were $3,850 and $3,080, respectively. The beginning and ending balances of Accrued Expenses were $1,980 and $3,520, respectively. Required a. Calculate revenues on an accrual basis for the year. b. Calculate operating expenses on an accrual basis for the year.