Tara Company reported accrual-basis revenue of $1,980,000 in its income statement for the year ended December 31,
Question:
Tara Company reported accrual-basis revenue of $1,980,000 in its income statement for the year ended December 31, 2008. Additional information follows:
No uncollectible accounts were written off during 2008.
Required:
Had the cash basis of accounting been used instead, how much revenue would Tara Company have recognized for 2008?
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