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*E3-19 (Cash and Accrual Basis) Latta Corp. maintains its financial records on the cash basis...

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Accounting

*E3-19 (Cash and Accrual Basis) Latta Corp. maintains its financial records on the cash basis of accounting.

Interested

in securing a long-term loan from

its regular

bank, Latta Corp. requests

you as its inde-

pendent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with

the following summarized data covering 2011, 2012, and 2013.

2011 2012 2013

Cash receipts from sales:

On 2011 sales $290,000 $160,000 $ 30,000

On 2012 sales

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