Question
The records for Sandhill Company showed the following for 2020: Jan. 1 Dec. 31 Unearned revenue $1,200 $2,000 Accrued revenue 1,300 940 Cash collected during
The records for Sandhill Company showed the following for 2020:
| Jan. 1 | Dec. 31 | ||||
| Unearned revenue | $1,200 | $2,000 | |||
| Accrued revenue | 1,300 | 940 |
Cash collected during the year for revenue, $73,000 Calculate the amount of revenue that should be reported on the income statement.
| Amount of revenue | $ |
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Auditing An Assertions Approach
Authors: G. William Glezen, Donald H. Taylor
7th Edition
047113421X, 978-0471134213
