please please solve all parts of this question perfectly and urgently. make sure to give...
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please please solve all parts of this question perfectly and urgently. make sure to give correct answer of all parts. mention each part answer as you give. I will give positive rating if you give correct answers
The following data are taken from the cash-basis accounting records of E81 Company for the year ended December 31, 20X1 Selected Data as of December 31, 20X1 Cash collections in 20x1 for accounts billed In 20X1 Cash collections in 20x1 for accounts billed in 20X0 Customers billed in 20x1 for services provided Cash paid for utility Incurred in 20X1 Cash pald for supplies purchased in 20X0 Cash paid on May 1, 20x1 for annual rent from May 1, 20X1 April 30, 20X2 300 60 $120 5 65 18 Required: Please choose the best answer to the following questions based on the above information What is the amount of revenues under cash-basis accounting in 20X12 $120 $360 $300 $480 What is the amount of expenses under cash-basis accounting in 20X12 $88 $70 $17 $23 What is the amount of expenses under accrual-basis accounting in 20X1? $70 S88 S23 $17
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