INTERMEDIATE ACCOUNTING /TX /LL/ CONNEC
10th Edition
ISBN: 9781264034420
Author: SPICELAND
Publisher: MCG
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PUG Company's revenue for March is $75,000, but only $15,000 cash is collected. Expenses for March are $41,000, of which $28,000 is paid in cash. During March, additional capital stock is issued in exchange for $5,000 cash. Using the accrual basis of accounting, what would PUG Company’s income statement for March report?
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