The following information belongs to the American University in Cairo (AUC). AUC receives tuition at a rate
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The following information belongs to the American University in Cairo (AUC). AUC receives tuition at a rate $ 100 per hour. At the beginning of 2019, the students owed AUC $ 10,000, of which $ 7000 were collected during 2016. During 2019, AUC billed the students for 10,000 hours. By the end of 2019, 1000 hours were still not collected. Show calculations determining for 2019:
A. Amount of Tuition revenues that will appear in the Income statement for 2019.
B. Cash received by AUC during 2019.
C. Balance of Accounts Receivables at the end of 2019.
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
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