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Clean Sweep agreed to clean an office building on a weekly basis for $1,000 per week.The contract began on August 15,and Clean Sweep cleaned the building twice during August.Clean Sweep received $2,000 cash in September for the cleaning performed in August.How much revenue should Clean Sweep recognize in August using cash-basis accounting?
Net Saver
An individual or institution that saves more resources or funds than they spend or consume.
Present Value
The current worth of a future sum of money or stream of cash flows, given a specified rate of return.
M.B.A. Programs
Master of Business Administration programs, offering advanced education in business management and operations.
Nominal Interest Rate
The stated interest rate of a loan or investment without adjusting for inflation.
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