Question
Alpha has both cash sales and credit sales. In addition, customers will often pay in advance for special orders of merchandise. The following information is
- Alpha has both cash sales and credit sales. In addition, customers will often pay in advance for special orders of merchandise. The following information is included in Alpha's December 31 balance sheets for 2022 and 2023:
Unearned Sales Revenue
2022 - $20,000
2023 - $11,000
Accounts Receivable
2022 - $25,000
2023 - $15,000
During 2023, Alpha received total cash of $180,000 from customers. In its income statement for the year ended December 31, 2023, how much sales revenue should Alpha report on an accrual basis?
Group of answer choices
$161,000
$181,000
$199,000
The correct answer is not listed.
$179,000
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Applied Statistics For Public And Nonprofit Administration
Authors: Kenneth J. Meier, Jeffrey L. Brudney, John Bohte
9th Edition
9781285737232
