Sandra Robinson, M.D., maintains the accounting records of Robinson Clinic on a cash basis. During 2020, Dr. Robinson collected $152,164 from her patients and paid $49,931 in expenses. At January 1, 2020, and December 31, 2020, she had accounts receivable, unearned service revenue, accrued expenses, and prepaid expenses as follows. (All long-lived assets are rented.)

January 1, 2020 December 31, 2020

Accounts receivable $9,374 $16,255

Unearned service revenue 2,872 4,258

Accrued expenses 3,124 1,983

Prepaid expenses 1,725 3,475

a schedule that converts Dr. Robinson's "excess of cash collected over cash disbursed" for the year 2020 to net income on an accrual basis for the year 2020.

SANDRA ROBINSON, M.D.

Conversion of Cash Basis to Accrual Basis

For the Year 2020

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