You have a small bicycle repair business. You charge $25 for each tune-up. Your friend pre-pays you for five tune-ups. During your first month of business, you do one tune-up for this friend and no other business. If you use the ACCRUAL METHOD, what do you record for SALES in the FIRST month?

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Step 11 Snipping Tool Under the accrual method of accounting sales are recorded in the month in whic... View the full answer