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Home Q & A Board Other Fields Homework Help Business Accounting
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evpalmer evpalmer
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6 years ago
TLR Consulting keep their accounting records using the cash basis. During 2014, they collected $435,000 from clients. On December 31, 2013 they had accounts receivable of $55,000 and on December 31, 2014 they had accounts receivable of $40,000. Additionally, they had unearned revenues of $8000. Using the accrual basis of accounting, what did TLR Consulting earn in service fees for 2014?
A) $412,000
B) $428,000
C) $442,000
D) $458,000
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
Authors:
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wrote...
#1
6 years ago
 A
Explanation:  $435,000 cash collected - $55,000 A/R earned in 2013 + $40,000 A/R earned in 2014 - $8000 unearned
evpalmer Author
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#2
6 years ago
Such a godsend, you helped me and my friend big time
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