Fanny's Fitness Studio sells memberships at a fee of $75 per month.Clients pay bimonthly.She currently has 50 clients paying on an even month rotation (February,April,etc.)and 30 clients paying on an odd month rotation (January,March,etc.).Fanny incurs expenses each month for $100 in electric bills and pays the bill every other month.Determine Fannie's net income for each month for the first quarter of the year,as well as the quarterly total,under both the cash and accrual basis.Is the quarterly total the same? If it is different,what would account for this?

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The Answer of Fanny's Fitness Studio sells memberships at a fee of $75 per month.Clients pay bimonthly.She currently has 50 clients paying on an even month rotation (February,April,etc.)and 30 clients paying on an odd month rotation (January,March,etc.).Fanny incurs expenses each month for $100 in electric bills and pays the bill every other month.Determine Fannie's net income for each month for the first quarter of the year,as well as the quarterly total,under both the cash and accrual basis.Is the quarterly total the same? If it is different,what would account for this?

Fanny's Fitness Studio Sells Memberships at a Fee of $75