(Answered) Question - suppose you work summers house-sitting for

Accounting

Question - Suppose you work summers house-sitting for people while they are away on vacation. Most of your customers pay you immediately after you finish a job. A few ask you to send them a bill. It is now June 30 and you have collected $600 from cash paying customers. Your remaining customers owe you $1,400.

Requirements

1. How much service revenue would you have under the

a. cash basis?

b. accrual basis?

2. Which method of accounting provides more information about your house sitting business?

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