Treadwell Advisors, Incorporated, follows GAAP and uses the Accrual Method of Accounting. During July, the...
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Treadwell Advisors, Incorporated, follows GAAP and uses the Accrual Method of Accounting. During July, the corporation had the following transactions: Cash received for services rendered to Jon Booker $40,000 Provided services to Mike Nguyen on credit $10,000 Received proceeds of loan from Second Chemical Bank $30,000 Sold common stock $50,000 Paid expenses $25,000 What amount of revenue will this corporation report for July on their Income Statement?
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