Suppose you work summers mowing yards. Most of your customers pay you immediately after their lawn is

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Suppose you work summers mowing yards. Most of your customers pay you immediately after their lawn is mowed, but a few customers ask you to bill them at the end of the month. It is now July 31, and you have collected $750 from cash-paying customers for services performed in July. Your remaining customers owe you $165 for services performed in July. How much service revenue would you record in July, according to accrual-basis accounting?

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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