Accrual basis.The records for Kiley Company showed the following for 2014: Cash collected during the year for revenue, $65,000Show the computation of the amount of revenue that should be reported on the income statement.

Question

Accrual basis.The records for Kiley Company showed the following for 2014:  Cash collected during the year for revenue, $65,000Show the computation of the amount of revenue that should be reported on the income statement.

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The Answer of Accrual basis.The records for Kiley Company showed the following for 2014:  Cash collected during the year for revenue, $65,000Show the computation of the amount of revenue that should be reported on the income statement.

Accrual Basis