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Franklin Consulting Inc. prepares monthly financial statements. The following events occurred in March, the first month of business: Transaction #1 Franklin provided $100,000 of consulting
Franklin Consulting Inc. prepares monthly financial statements. The following events occurred in March, the first month of business: Transaction #1 Franklin provided $100,000 of consulting services on credit. Transaction #2 Franklin collected $80,000 of cash on the consulting services provided in transaction #1. Transaction #3 Franklin received $40,000 in cash for a 10-month consulting contract where Franklin will provide the services evenly over the 10 months, beginning in March. What is Franklin's revenue for March under the accrual method of accounting? What is Franklin's revenue for March under the cash method of accounting? Do no use any punctuation. Only enter digits
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