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March 29, 2015

Homework Help: accounting

Posted by Kimmie on Saturday, December 8, 2012 at 7:35pm.

On March 3, a customer gives you $1800 cash for services not yet performed. At the end of the month, only $600 of services are performed. In preparing the March statement, all $1800 was listed as revenue. What errors would this cause? What principles are involved? What is the effect on the balance sheet and income statement?

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