Purrfect Pets, Inc. provides animal daycare for $ 28 per day. Customers buy three month packages, which provide 15 days of care per month. In January they received cash payments from 12 customers. For the month of January, they will recognize ________ of revenue under the cash basis, and ________ of revenue under the accrual basis. A. $15,120;$5,040 B. $ 420; $1,260 C. $5,040;$5,040 D. $15,120;$15,120
Purrfect Pets, Inc. provides animal daycare for $ 28 per day. Customers buy three month packages, which provide 15 days of care per month. In January they received cash payments from 12 customers. For the month of January, they will recognize ________ of revenue under the cash basis, and ________ of revenue under the accrual basis. A. $15,120;$5,040 B. $ 420; $1,260 C. $5,040;$5,040 D. $15,120;$15,120
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Purrfect Pets, Inc. provides animal daycare for
$ 28
per day. Customers buy three month packages, which provide
15
days of care per month. In January they received cash payments from
12
customers. For the month of January, they will recognize ________ of revenue under the cash basis, and ________ of revenue under the accrual basis.$15,120;$5,040
$ 420; $1,260
$5,040;$5,040
$15,120;$15,120
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