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    MEPLUSTHREE's Avatar
    MEPLUSTHREE Posts: 3, Reputation: 1
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    #1

    May 30, 2008, 02:04 PM
    Reporting Cash Basis versus Accrual Basis Income
    Mostert Music Company had the following transactions in March:
    a. Sold instruments to customers for $10,000; received $6,000 in cash and the rest on account. The cost of the instruments was $7,000.
    b. Purchased $4,000 of new instruments inventory; paid $1,000 in cash and owed the rest on account.
    c. Paid $600 in wages for the month.
    d. Received a $200 bill for utilities that will be paid in April.
    e. Received $1,000 from customers as deposits on orders of new instruments to be sold to the customers in April.
    Complete the following statements:
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    May 31, 2008, 06:41 PM
    Please see our guidelines for submitted homework problems:

    https://www.askmehelpdesk.com/financ...-b-u-font.html

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