Based on the following transactions, calculate the revenues and expenses that would be reported (a)...
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Accounting
Based on the following transactions, calculate the revenues and expenses that would be reported a on the cash basis and b on the accrual basis: a Credit sales to customers totalled $ b Cash sales totalled $ c Cash collections on account from customers totalled $ d Cost of goods sold during the period was $ e Payments made to suppliers of inventory totalled $ f Wages of $ were paid during the year. In addition, wages of $ remained unpaid at year end; there were no wages unpaid at the beginning of the year. g Halfway through the year, a oneyear insurance policy was purchased at a cost of $ h At the end of the year the company paid $ for the first months' rent for the upcoming year. 
Based on the following transactions, calculate the revenues and expenses that would be reported a on the cash basis and b on the accrual basis:
a Credit sales to customers totalled $
b Cash sales totalled $
c Cash collections on account from customers totalled $
d Cost of goods sold during the period was $
e Payments made to suppliers of inventory totalled $
f Wages of $ were paid during the year. In addition, wages of $ remained unpaid at year end; there were no wages unpaid at the beginning of the year.
g Halfway through the year, a oneyear insurance policy was purchased at a cost of $
h At the end of the year the company paid $ for the first months' rent for the upcoming year.
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