Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 19

Cash receipts versus revenues During the month of April, Riley Co. had cash receipts from customers of $340,000. Expenses totaled $312,000, and accrual basis net income was $84,000. There were no gains or losses during the month.
Required:
a. Calculate the revenues for Riley Co. for April.
b. Explain why cash receipts from customers can be different from revenues.