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Shadow's Cleaning Services provides weekly cleaning services for $40 per week. In January, they collected payments from 50 customers for 3 months (12 weeks) of
Shadow's Cleaning Services provides weekly cleaning services for $40 per week. In January, they collected payments from 50 customers for 3 months (12 weeks) of service each. For the month of February they will recongnize (ANSWER) of revenue under cash basis, and (ANSWER) under the accural basis.
ANSWERS:
1) $0, $800
2) $8,000, $8,000
3) $8,000, $24,000
4) $24,000, $8,000
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