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10. The following data are taken from the cash-basis accounting records of Myerson Company for the year ended December 31, 2021: Selected Data as of
10.
The following data are taken from the cash-basis accounting records of Myerson Company for the year ended December 31, 2021: Selected Data as of December 31, 2021 Customers billed in 2021 for services provided Cash collections in 2021 for accounts billed in 2020 Cash collections in 2021 for accounts billed in 2021 Cash paid for supplies purchased in 2021 Supplies remaining at the end of 2021 Cash paid for salaries in 2021 Cash paid for annual rent on March 1, 2021 $420,000 23,000 260,000 18,000 2,100 12,000 19,000 Calculate the amount of revenues and expenses for 2021 under cash-basis accounting, Cush-basis revenues Cash-basis expenses Step by Step Solution
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