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NotSoStrong, Inc. has an accounts receivables balance of $13,915 as of November 1, 2021. During November, the firm had the following transactions: Purchased $2,450 worth
NotSoStrong, Inc. has an accounts receivables balance of $13,915 as of November 1, 2021. During November, the firm had the following transactions:
- Purchased $2,450 worth of supplies on account.
- Received $9,560 in cash from customers for services to be provided in December.
- Provided services worth $20,400 to customers on account.
- Paid $2,000 in cash for Decembers rent
- Paid creditors $1,971 for supplies previously purchased on account.
- Received $22,030 in cash from customers for services previously provided on account in October.
How much revenue should the firm recognize for the month of November using accrual basis accounting?
Group of answer choices
$20,400
$31,590
$9,560
$0
$51,990
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