Leo's Lounge reported revenue of $500,000 in its accrual based income statement for the year ended December 31,2014.Additional information from the books:
What would Leo's revenue be under the cash basis of accounting?

Question

Leo's Lounge reported revenue of $500,000 in its accrual based income statement for the year ended December 31,2014.Additional information from the books:
  What would Leo's revenue be under the cash basis of accounting?

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The Answer of Leo's Lounge reported revenue of $500,000 in its accrual based income statement for the year ended December 31,2014.Additional information from the books:
  What would Leo's revenue be under the cash basis of accounting?

Leo's Lounge Reported Revenue of $500,000 in Its Accrual Based