A company receives $2,500 cash from customers for services to be provided next month. Record the cash receipt using (a) accrual-basis accounting and (b) cash-basis accounting.
151. A company performs $2,800 of services during the month and bills customers. The customers are expected to pay next month. Record the customer billing using (a) accrual-basis accounting and (b) cash-basis accounting.
152. A company performs $4,200 of services during the month and receives full cash payment from customers at the time of service. Record the cash receipt using (a) accrual-basis accounting and (b) cash-basis accounting.
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