Secure 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. As of the end of the year, Secure Home has collected $1,720 from cash-paying customers. Secure Home’s remaining customers owe the business $3,080. Secure Home recorded $1,720 of service revenue for the year. (Cash basis) If Secure Home had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?
Secure 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. As of the end of the year, Secure Home has collected $1,720 from cash-paying customers. Secure Home’s remaining customers owe the business $3,080. Secure Home recorded $1,720 of service revenue for the year. (Cash basis) If Secure Home had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...
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Secure 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. As of the end of the year, Secure Home has collected $1,720 from cash-paying customers. Secure Home’s remaining customers owe the business $3,080. Secure Home recorded $1,720 of service revenue for the year.
(Cash basis)
If Secure Home had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?
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