In its accrual-basis income statement for the year ended December 31,2014,Ralph Company reported revenue of $2,565,000.Additional information was as follows:
$\begin{array}{lr}
\text { Accounts receivable 12/31/13 } & \$ 418,500 \
\text { Uncollectible accounts written off during 2014 } & 17,200 \
\text { Accounts receivable 12/31/14 } & 391,700
\end{array}$
Required:
Under the cash basis of net income determination,how much should Ralph report as revenue for 2014?

Question

In its accrual-basis income statement for the year ended December 31,2014,Ralph Company reported revenue of $2,565,000.Additional information was as follows:
$\begin{array}{lr}
\text { Accounts receivable 12/31/13 } & \$ 418,500 \
\text { Uncollectible accounts written off during 2014 } & 17,200 \
\text { Accounts receivable 12/31/14 } & 391,700
\end{array}$ 
Required:
Under the cash basis of net income determination,how much should Ralph report as revenue for 2014?

Quizplus · Accepted Answer

The Answer of In its accrual-basis income statement for the year ended December 31,2014,Ralph Company reported revenue of $2,565,000.Additional information was as follows:
$\begin{array}{lr}
\text { Accounts receivable 12/31/13 } & \$ 418,500 \
\text { Uncollectible accounts written off during 2014 } & 17,200 \
\text { Accounts receivable 12/31/14 } & 391,700
\end{array}$ 
Required:
Under the cash basis of net income determination,how much should Ralph report as revenue for 2014?

In Its Accrual-Basis Income Statement for the Year Ended December