Gregg Corp. reported revenue of $1,450,000 in its accrual basis income statement for the year ended June 30, 2015. Additional information was as follows: Under the cash basis, Gregg should report revenue of

Question

Gregg Corp. reported revenue of $1,450,000 in its accrual basis income statement for the year ended June 30, 2015. Additional information was as follows:  Under the cash basis, Gregg should report revenue of

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The Answer of Gregg Corp. reported revenue of $1,450,000 in its accrual basis income statement for the year ended June 30, 2015. Additional information was as follows:  Under the cash basis, Gregg should report revenue of