Business, 12.10.2020 21:01 hussain5889
Mostert Music Company had the following transactions in March:
a. Sold music lessons to customers for $14,000; received $8,400 in cash and the rest on account.
b. Paid $680 in wages for the month.
c. Received a $325 bill for utilities that will be paid in April.
d. Received $3,200 from customers as deposits on music lessons to be given in April.
Based on the information above, prepare a cash basis and an accrual basis income statement.
Answers: 3
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Mostert Music Company had the following transactions in March:
a. Sold music lessons to customers...
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