Question
Net income for july using accrual basis of accounting 12 0/1 points awarded Scored Print References Explanatic Show Daube Industries' operations for the month of
Net income for july using accrual basis of accounting
12 0/1 points awarded Scored Print References Explanatic Show Daube Industries' operations for the month of July are summarized as follows: A. Provided $8,600 of services in July on account. B. Received $3,200 cash from customers for services provided in July. C. Received $1,600 cash for services to be provided in August. D. Received $4,600 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,100. F. Received July's warehouse rental bill of $1,400; set it aside to be paid at a later date. Required: a. Determine the net income for July using the cash basis of accounting. b. Determine the net income for July using the accrual basis of accounting. Complete this question by entering your answers in the tabs below. Required A Required B Determine the net income for July using the accrual basis of accounting.
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