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Melodys Piano School operations for the month of May were limited to the following transactions: Provided $750 of piano lessons to students who paid in
Melodys Piano School operations for the month of May were limited to the following transactions: Provided $750 of piano lessons to students who paid in cash. Provided $580 of piano lessons on account. Collected $435 from students who took piano lessons during April. Paid Aprils piano rental bill of $300. Received Mays piano rental bill of $350 and set it aside for payment in June..
What is Melody's Net Income for May using the accrual basis of accounting? |
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