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For each transaction below, calculate the amount of revenue to be recognized in the current period using accrual-basis accounting: a. Performed $8,500 of services during

For each transaction below, calculate the amount of revenue to be recognized in the current period using accrual-basis accounting:

a. Performed $8,500 of services during the month and billed customers. Customers are expected to pay next month.

Revenue to be recognized:

b. Received $12,000 cash from customers for services to be provided next month.

Revenue to be recognized:

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