Sheepskin Company had the following transactions during 2008. Sales of $5,500 on account ...
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Accounting
Sheepskin Company had the following transactions during 2008. Sales of $5,500 on account Collected $2,225 for services to be performed in 2009 Paid $600 cash in salaries Purchased airline tickets for $255 in December for a trip to take place in 2009 15. What is Sheepskins 2008 net income using accrual accounting?
a. $3,875
b. $5,875
c. $4,900
d. $3,625
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