During the year ended December 31, 2022, Blueberry Inc. received $250,000 cash for sales from...
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Accounting
During the year ended December 31, 2022, Blueberry Inc. received $250,000 cash for sales from customers. The company began the year with a balance in accounts receivable of $37,000, all of which was received in 2022. At the end of the year, customers owed Blueberry inc. $52,000 for services provided in 2022.
Calculate the revenue Blueberry Inc. should report in 2022 using:
a) cash basis of accounting
b) accrual basis of accounting
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