During

2021,

Evensen

Network, Inc., which designs network servers, earned revenues of

$760

million. Expenses totaled

$580 million.

Evensen

collected all but

$28

million of the revenues and paid

$620

million on its expenses.

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requirements

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Part 1

Requirement a. Under accrual accounting, what amount of revenue should

Evensen

report for

2021?

How does the revenue principle help to answer this question?

The amount of revenue that should be reported for the year in millions is