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1. Given below is the activity of Tahoe Company: 1. Owners

 

Customer Question

1.
Given below is the activity of Tahoe Company:
1. Owners invested $20,000 in cash in the business
2. Credit sales were $80,000
3. Cash sales were $20,000
4. Cash collections from credit customers were $36,000 Cash borrowed on a note payable was $27,000
The total revenue for Tahoe Company, using the cash basis of accounting, is _____.

 

Optional Information:
Subject: accounting

Submitted: 295 days and 8 hours ago.
Category: Single Problem
Value: $20
Status: CLOSED

Accepted Answer

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Expert:  Neo replied 295 days and 7 hours ago.

Good day!

Welcome to JustAnswer!

Cash Basis Revenue = $20,000 + $36,000 = $56,000

Expert TypeBachelor's Degree
Category: Single Problem
Pos. Feedback: 99.5 %
Accepts: 431
Answered: 6/22/2012

Experience: BS Accounting

Ask this Expert a Question >
Customer replied 295 days and 5 hours ago.

are u still there?

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Expert:  Neo replied 295 days and 4 hours ago.

Good day!

I am here.

 
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