Marigold Consulting uses the cash basis of accounting and a fiscal year ending December 31. Beginning on September 1, 2021, Marigold performs services for Bramble International at a rate of $3900 per month. On February 12, 2022, Bramble pays Marigold $19500 in full for all services rendered from September 1, 2021 to January 31, 2022. Marigold understated revenues by ________ on its 2021 income statement. $15600 $19500 $3900 $11700
Marigold Consulting uses the cash basis of accounting and a fiscal year ending December 31. Beginning on September 1, 2021, Marigold performs services for Bramble International at a rate of $3900 per month. On February 12, 2022, Bramble pays Marigold $19500 in full for all services rendered from September 1, 2021 to January 31, 2022. Marigold understated revenues by ________ on its 2021 income statement. $15600 $19500 $3900 $11700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marigold Consulting uses the cash basis of accounting and a fiscal year ending December 31. Beginning on September 1, 2021, Marigold performs services for Bramble International at a rate of $3900 per month. On February 12, 2022, Bramble pays Marigold $19500 in full for all services rendered from September 1, 2021 to January 31, 2022. Marigold understated revenues by ________ on its 2021 income statement.
$15600
$19500
$3900
$11700
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