Evaluate the following items, and determine the correct amount to report on the income statement for each,

Question:

Evaluate the following items, and determine the correct amount to report on the income statement for each, using the accrual basis of accounting for the referenced period of time. (question 1) Revenues A Company had beginning accounts receivable of $8,000. The company reported cash basis revenues of $100,000. The ending accounts receivable amounted to $18,000. (question 2)Supplies B Company purchased $25,000 of supplies. Supplies on hand decreased by $5,000 during the period. Please answer the 2 questions by instructions, and explain to me clearly to answers.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...