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Q1) Cash Receipts versus revenues in the month of April. Simpson CO. had cash receipts from customers of 170,000. Expenses totaled %156,000 and accrual basis net income was 42,000. There was no gain or losses during the month.

a. Compute Revenues for Simpson Co. for April

b. Describe why cash receipt from customers can be different from revenues.

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  • Category:- Accounting Basics
  • Reference No.:- M921976

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