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Exercise 3-42 (Algorithmic) Revenue and Expense Recognition Astrid Transportation Inc., headquartered in Atlanta, Georgia, uses accrual-basis accounting and engaged in the following transactions: billed customers
Exercise 3-42 (Algorithmic) Revenue and Expense Recognition Astrid Transportation Inc., headquartered in Atlanta, Georgia, uses accrual-basis accounting and engaged in the following transactions: billed customers $2,510,050 for transportation services collected cash from customers in the amount of $1,381,975 purchased fuel supplies for $1,333,800 cash used fuel supplies that cost $1,304,190 employees earned salaries of $291,400 paid employees $280,300 cash for salaries . Required: Determine the amount of sales revenue and total expenses for Astrid's income statement. Sales Revenue 2,510,050 Total Expenses
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