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The following data are taken from the cash-basis accounting records of Myerson Company for the...

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Accounting

The following data are taken from the cash-basis accounting records of Myerson Company for the year ended December 31, 2024:

Selected Data as of December 31, 2024
Customers billed in 2024 for services provided in 2024 $ 410,000
Cash collections in 2024 for accounts billed in 2023 28,000
Cash collections in 2024 for accounts billed in 2024 230,000
Cash paid for supplies purchased in 2024 12,000
Supplies remaining at the end of 2024 2,700
Cash paid for salaries in 2024 10,500
Cash paid for annual rent on March 1, 2024 19,000

Required:

Calculate the amount of revenues and expenses for 2024 under cash-basis accounting.

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