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During the year 2019, Zuhoor Muscat Company earned Revenue on account of RO 1,500, and collected RO 750 from customers for revenue earned in 2018.

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During the year 2019, Zuhoor Muscat Company earned Revenue on account of RO 1,500, and collected RO 750 from customers for revenue earned in 2018. Additionally, the company received RO 3,750 for services to be performed during 2020. In addition, Zuhoor Muscat Company incurred and paid Expenses of RO 600 in 2019, and paid rent of RO 800 in advance for a contract that will commence (start) only in year 2020. If Zuhoor Muscat Company is applying accrual-basis accounting, then the 2019 net income or (net loss) was

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