(Answers appear at the end of chapter) 1. Assume that a lawyer bills her clients $15,000 on June 30, for services rendered during June. The lawyer collects $8,500 of the billings during July and the remainder in Augustl Under the accrual basis of accounting, when would the lawyer re- cord the revenue for the fees? A. June, $15,000; July, $0; and August, $0 B. June, $0; July, $6,500; and August, $8,500 C. June, $8,500; July, $6,500; and August, $0 D. June, $0; July, $8,500; and August, $6,500 2. On January 24 2018 Niche Consulting collecte