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X Company is a service company and prepares monthly financial statements. In April, it billed customers $413,000 for services it provided; in May, it billed

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X Company is a service company and prepares monthly financial statements. In April, it billed customers $413,000 for services it provided; in May, it billed customers $361,000 for services it provided. In May, the company received $280,000 from its April customers and $242,000 from its May customers. Which of the following amounts will appear on X Company's May Income Statement and Statement of Cash Flows? o both statements, $361,000 O Income Statement, $522,000; Statement of Cash Flows, $361,000 O both statements, $242,000 O Income Statement, $361,000; Statement of Cash Flows, $522,000 Income Statement, $774,000; Statement of Cash Flows, $522,000 O Income Statement, $522,000; Statement of Cash Flows, $774,000 Submit Answer Tries 0/2

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