Joel Hamilton, D D S , keeps his accounting records on the cash basis During 2017, he collected $200,000 in fees from his patients At December 31, 2016, Dr Hamilton had accounts receivable of $18,000 and no liability for deferred fee revenue At December 31, 2017, he had accounts receivable of $25,0...

We first analyze the activity in the deferred fee revenue account which is shown below This account ...

Joel Hamilton, D.D.S., keeps his accounting records on the cash basis. During 2017, he collected $200,000 in

Question:

Joel Hamilton, D.D.S., keeps his accounting records on the cash basis. During 2017, he collected $200,000 in fees from his patients. At December 31, 2016, Dr. Hamilton had of $18,000 and no liability for deferred fee revenue. At December 31, 2017, he had of $25,000 and a liability for deferred fee revenue of $8,000.
Required:
On an accrual basis, what was Dr. Hamilton's patient fee revenue for 2017?
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...