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Cash receipts versus revenues During the month of April, Riley Co. had cash receipts from customers of $780,000. Expenses totaled $624,000, and accrual basis net
Cash receipts versus revenues During the month of April, Riley Co. had cash receipts from customers of $780,000. Expenses totaled $624,000, and accrual basis net income was $218,000. There were no gains or losses during the month. Required:
a. Calculate the revenues for Riley Co. for April.
b. Explain why cash receipts from customers can be different from revenues.
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Cost Accounting A Managerial Emphasis International
Authors: Charles T. Horngren, Srikant M. Datar, George Foster
11th Edition
8120323548, 978-8120323544
