1. Given below is the activity of Tahoe Company: 1. Owners invested $20,000 in cash in the business2. 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 _____.
Good day!Welcome to JustAnswer!Cash Basis Revenue = $20,000 + $36,000 = $56,000
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