Jimmy's Jelly Company reported revenue of $250,000 in its accrual based income statement for the year ended December 31, 2018. Additional information from the books:
Accounts receivable December 31, 2017 $75,000
Accounts receivable December 31, 2018 80,000
Uncollectible accounts written off during 2018 3,000
What would Jimmy's Jelly Company's revenue be under the cash basis of accounting?

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The Answer of Jimmy's Jelly Company reported revenue of $250,000 in its accrual based income statement for the year ended December 31, 2018. Additional information from the books:
Accounts receivable December 31, 2017 $75,000
Accounts receivable December 31, 2018 80,000
Uncollectible accounts written off during 2018 3,000
What would Jimmy's Jelly Company's revenue be under the cash basis of accounting?

Jimmy's Jelly Company Reported Revenue of $250,000 in Its Accrual