Small Company Rendered Services to Customers Amounting to $6,000 During

question 73

Essay

Small Company rendered services to customers amounting to $6,000 during 20X1; the related cash was collected as follows: $4,000 in 20X1; $2,000 in 20X2. During 20X1, $3,000 was incurred for wages expense; the related cash payments were made as follows: $1,200 in 20X1; in 20X2, $1,800. Based only on these data, provide the following amounts on accrual basis: $$\begin{array} { | l | l | l | } \hline \text { Amount to be reported for: } & 20 X 1 & 20X 2 \\\hline \text { Revenue } & \$ & \$ \\\hline \text { Expense } & \$ & \$ \\\hline\end{array}$$

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Definitions:

Strawberry Odor

The characteristic scent associated with strawberries, often synthesized for use in food flavoring and fragrances.

Transduction

The process by which sensory stimuli are converted into signals the brain can interpret.

Sensory Systems

The parts of the nervous system responsible for processing sensory information from the environment, including sight, sound, taste, touch, and smell.

Perception

The process of interpreting sensory information from the environment to understand and interact with the world.