On January 1, 2024, customers owed Sheridan Company $51200 for services provided in 2023. During 2024, Sheridan Co. received $186000 cash from customers. On December 31, 2024, customers owed Sheridan $21900 for services provided in 2024. How much revenue should Sheridan recognize in 2024 under the accrual basis of accounting? O $186000 O $179600 O $156700 O $134800

On January 1, 2024, customers owed Sheridan Company $51200 for services provided in 2023. During 2024, Sheridan Co. received $186000 cash from customers. On December 31, 2024, customers owed Sheridan $21900 for services provided in 2024. How much revenue should Sheridan recognize in 2024 under the accrual basis of accounting? O $186000 O $179600 O $156700 O $134800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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