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The following activities occurred during the current year, 2013, for the Maverick Law Firm. On February 1, 2013, received cash of $5,600 from clients in payment of their accounts from 2012. In 2013, received cash of $16,000 for law services rendered in 2013. At the end of 2013, billed customers $4,600 for services rendered in 2013. This amount was unpaid as of the end of the year. In November of 2013, received cash of $2,600 from clients as a deposit on law services to be performed in 2014. The law firm uses accrual basis of accounting.
What is the amount of Law Services Revenue to be reported on the Income Statement for the year 2013?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9960183

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