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Angelo's charges $270 per month for catering services. In the first quarter of the year, they collected $18,900. Fifteen customers pre-paid for three months of
Angelo's charges $270 per month for catering services. In the first quarter of the year, they collected $18,900. Fifteen customers pre-paid for three months of catering beginning in January, ten customers pre-paid for two months of catering beginning in February, and five customers paid for one month of catering in March. Using the cash basis of accounting, Angelo's will recognize ________ in revenue for February and ________ using the accrual basis.
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