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X Company is a service company and prepares monthly financial statements. In April, it billed customers $402,000 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 $402,000 for services it provided; in May, it billed customers $354,000 for services it provided. In May, the company received $284,000 from its April customers and $243,000 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, $354,000 O Income Statement, $756,000; Statement of Cash Flows, $527,000 O both statements, $243,000 O Income Statement, $527,000; Statement of Cash Flows, $756,000 Income Statement, $354,000; Statement of Cash Flows, $527,000 O Income Statement, $527,000; Statement of Cash Flows, $354,000 * Tries 0/2

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