Camp Consulting Services Started Business on January 1, 2016 ​

question 24

Short Answer

Camp Consulting Services started business on January 1, 2016.Camp performed services for customers totaling $100,000 of which 40% remain uncollected at the end of December.Under the accrual basis, what amounts would appear on Camp Consulting's financial statements for 2016? $$\begin{array}{l}&\text {Income Statement }&\text { Statement of Cash Flows}\\\hline a.&(\$100,000)&(\$60,000)\\b.&(\$100,000)&(\$100,000)\\c.&(\$60,000)&(\$60,000)\\d.&(\$60,000)&(\$100,000)\\\end{array}$$
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