Safe Home provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. On December 31, Safe Home has collected $700 from cash-paying customers. Safe Home’s remaining customers owe the business $1,900. What is the accrual basis? I need assistance in understanding CASH VS ACCRUAL. Deferral vs Accurred. Chapter 3 is very hard for me to understand.
Safe Home provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. On December 31, Safe Home has collected $700 from cash-paying customers. Safe Home’s remaining customers owe the business $1,900. What is the accrual basis? I need assistance in understanding CASH VS ACCRUAL. Deferral vs Accurred. Chapter 3 is very hard for me to understand.
Chapter3: Income Sources
Section: Chapter Questions
Problem 79P
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Safe Home provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. On December 31, Safe Home has collected $700 from cash-paying customers. Safe Home’s remaining customers owe the business $1,900. What is the accrual basis?
I need assistance in understanding CASH VS ACCRUAL. Deferral vs Accurred.
Chapter 3 is very hard for me to understand.
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