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During the First Month of Operations, Kelly's Tax Service Provided

Question 14

Multiple Choice

During the first month of operations, Kelly's Tax Service provided services and billed customers in the amount of $6000. By the end of the first month, $3600 had been collected and it was expected that the other $2400 would be collected during the following month. On Kelly's statement of comprehensive income for the first month, what amount of revenue should be reported?


A) $0
B) $2400
C) $3600
D) $6000

Correct Answer:

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