Camper City started business on January 1,2013.Stanton performed services for customers totalling $250,000,of which 40% remain uncollected at the end of December.Under the accrual basis,what amounts will appear on the company's financial statements for 2013?
A) income statement: $150,000; statement of cash flows: $150,000
B) income statement: $150,000; statement of cash flows: $250,000
C) income statement: $250,000; statement of cash flows: $150,000
D) income statement: $250,000; statement of cash flows: $250,000
Correct Answer:
Verified
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