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[The following information applies to the questions displayed below.] During 2015, Maverick Law Firm had the following transactions with it clients (customers): On February 1,
[The following information applies to the questions displayed below.] |
During 2015, Maverick Law Firm had the following transactions with it clients (customers): |
On February 1, 2015, the company received cash of $5,000 from clients in payment of their account balances as of December 31, 2014. | |
On November 1, 2015, the company received $2,000 cash as payments in advance for law services to be performed in 2016. | |
The company received a total of $13,000 in cash for law services that were performed during 2015. | |
The company sent bills totaling $4,000 to clients for services performed during 2015; this amount was unpaid as December 31, 2015. |
What is the amount of Law Services Revenue that will be reported on the income statement for the year 2015? |
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