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I need help with 5 through 8 Use the following to answer questions 5 - 6 Following is a February transaction for a company. Calculate
I need help with 5 through 8
Use the following to answer questions 5 - 6 Following is a February transaction for a company. Calculate the amount of expense to recognize in February. In February the company paid their employees $25,000; $20,000 for work performed in February and $5,000 for work performed in January. 5. Accrual basis expense: $ 6. Cash basis expense: $. Use the following to answer 7-8 Following is a February transaction for a company. Calculate the amount of revenue to recognize in February. In February the company performed $50,000 of service and they billed their customers. Customers paid $40,000 this month and will pay the remaining $10,000 next month. 7. Accrual basis revenue: $ 8. Cash basis revenue: $
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