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During the month of March, Weimar World, a tax-preparation service, had the following transactions. Billed $744,000 in revenues on credit Received $246,000 from customers' accounts
During the month of March, Weimar World, a tax-preparation service, had the following transactions. Billed $744,000 in revenues on credit Received $246,000 from customers' accounts receivable Incurred expenses of $291,000 but only paid $131,550 cash for these expenses Prepaid $48,330 for computer services to be used next month What was the company's accrual basis net income for the month? Select one: a. $612,450 O b. $404,670 O C. $83,220 O d. None of these are correct O e. $453,000
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