Sales revenues of a utility for a certain fiscal period: a) Include billed receivables and an accrual for unbilled receivables as of the balance sheet date. b) Should be reported on the cash basis for the sake of conservatism. c) Include receivables billed during a fiscal period, plus receivables billed early in the next year if meters were read before year-end. d) Are equivalent to total debits to Customer Accounts Receivable for that period.
Sales revenues of a utility for a certain fiscal period: a) Include billed receivables and an accrual for unbilled receivables as of the balance sheet date. b) Should be reported on the cash basis for the sake of conservatism. c) Include receivables billed during a fiscal period, plus receivables billed early in the next year if meters were read before year-end. d) Are equivalent to total debits to Customer Accounts Receivable for that period.
Chapter18: Long-term Debt Financing
Section: Chapter Questions
Problem 3BIC
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Transcribed Image Text:Sales revenues of a utility for a certain fiscal period:
a) Include billed receivables and an accrual for unbilled receivables as of the
balance sheet date.
b) Should be reported on the cash basis for the sake of conservatism.
c) Include receivables billed during a fiscal period, plus receivables billed early
in the next year if meters were read before year-end.
d) Are equivalent to total debits to Customer Accounts Receivable for that
period.
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