TLR Consulting Keep Their Accounting Records Using the Cash Basis

question 22

Multiple Choice

TLR Consulting keep their accounting records using the cash basis.During 2014,they collected $275,000 from clients.On December 31,2013 they had accounts receivable of $50,000 and on December 31,2014 they had accounts receivable of $35,000.Additionally,they had unearned revenues of $7,000.Using the accrual basis of accounting,what did TLR Consulting earn in service fees for 2014?

• A)$253,000
• B)$267,000
• C)$283,000
• D)$297,000

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