For Each Transaction Below,calculate the Amount of Revenue to Be

question 78

Essay

For each transaction below,calculate the amount of revenue to be recognized in the current period using accrual-basis accounting:
(a)Performed $24,000 of services during the month and received full cash payment from customers at the time of service.
(b)Performed $9,000 of services during the month and billed customers.Customers are expected to pay next month.
(c)Received $12,000 cash from customers for services to be provided next month.

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Definitions:

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