Krump's Pie Company reported revenue of $500,000 in its accrual basis income statement for the year ended December 31, 2018. Additional information from the books:
Accounts receivable December 31, 2017 $150,000
Accounts receivable December 31, 2018 310,000
Uncollectible accounts written off during 2018 20,000
What would Krump's revenue be under the cash basis of accounting?

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The Answer of Krump's Pie Company reported revenue of $500,000 in its accrual basis income statement for the year ended December 31, 2018. Additional information from the books:
Accounts receivable December 31, 2017 $150,000
Accounts receivable December 31, 2018 310,000
Uncollectible accounts written off during 2018 20,000
What would Krump's revenue be under the cash basis of accounting?

Krump's Pie Company Reported Revenue of $500,000 in Its Accrual