Roc Corporation experienced the following transactions: • Borrowed $5,000 from the bank. ● Completed services for a customer and collected $2,500 cash. • Received $4,000 cash for services to be completed next year. • Received $3,000 in collection of an accounts receivable from services performed last year. Completed services and bill a customer $6,000. . How much revenue should Roc record this year? O $9,000. $8,500. $11,500. O $15,500.

Roc Corporation experienced the following transactions: • Borrowed $5,000 from the bank. ● Completed services for a customer and collected $2,500 cash. • Received $4,000 cash for services to be completed next year. • Received $3,000 in collection of an accounts receivable from services performed last year. Completed services and bill a customer $6,000. . How much revenue should Roc record this year? O $9,000. $8,500. $11,500. O $15,500.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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