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Mostert Music Company had the following transactions in March: a. Sold music lessons to customers for $15,700; received $9,900 in cash and the rest on
Mostert Music Company had the following transactions in March: a. Sold music lessons to customers for $15,700; received $9,900 in cash and the rest on account. b. Paid $550 in wages for the month. c. Received a $230 bill for utilities that will be paid in April. d. Received $2,300 from customers as deposits on music lessons to be given in April. Based on the information above, prepare a cash basis and an accrual basis income statement Complete this question by entering your answers in the tabs below. Cash Basis Accrual Basis Based on the information above, prepare a cash basis and an accrual basis income statement. Complete this question by entering your answers in the tabs below. Cash Basis Accrual Basis Based on the information above, prepare a cash basis income statement. MOSTERT MUSIC COMPANY Cash Basis Income Statement Revenues Cash Sales Customer Deposits Total Revenues Expenses Salaries and Wages Paid Cash income Accrual Basis >
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