A dentist performs dental services for a patient on April 20; the total bill for the dental services was $200. The patient makes a co-pay of $20 on April 20, and the insurance company pays the remaining balance of $180 on May 19. On what date(s) will the dentist record the revenue for those dental services provided on April 20? (Assume the accrual basis of accounting is used.) OA. $180 of revenue on April 20 and the remaining $20 on May 19 OB. $200 of revenue on May 19 OC. $200 of revenue on April 20 O D. $20 of revenue on April 20 and $180 of revenue on May 19
A dentist performs dental services for a patient on April 20; the total bill for the dental services was $200. The patient makes a co-pay of $20 on April 20, and the insurance company pays the remaining balance of $180 on May 19. On what date(s) will the dentist record the revenue for those dental services provided on April 20? (Assume the accrual basis of accounting is used.) OA. $180 of revenue on April 20 and the remaining $20 on May 19 OB. $200 of revenue on May 19 OC. $200 of revenue on April 20 O D. $20 of revenue on April 20 and $180 of revenue on May 19
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:A dentist performs dental services for a patient on April 20; the total bill for the dental services was $200. The patient makes a co-pay of $20 on April 20, and the insurance company pays the remaining balance of $180 on May 19.
On what date(s) will the dentist record the revenue for those dental services provided on April 20? (Assume the accrual basis of accounting is used.)
O A. $180 of revenue on April 20 and the remaining $20 on May 19
OB $200 of revenue on May 19
OC. $200 of revenue on April 20
O D. $20 of revenue on April 20 and $180 of revenue on May 19
Transcribed Image Text:On November 1, 2022, a company using accrual accounting, pays $780,000 for a television advertising campaign. Commercials will run evenly over six months beginning on November 1, 2022. How much Advertising Expense will
be reported on an income statement prepared for the year ended December 31, 2023?
OA. $260,000
OB. $390,000
OC. $780,000
O D. $520,000
C---
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