Calculate revenue for the month of september

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Reference no: EM132419839

Sierra corporation had the following selected transactions in September:

  • Collected $315 cash from customers for services performed in August.
  • Collected $525 cash from customers for services performed in September.
  • Billed customers $600 for services performed in September.
  • Performed $80 of services to customers who paid in advance in August.
  • Received $80 from customers in advance for services to be performed in October.

Calculate revenue for the month of September using the accrual basis of accounting and calculate revenue for the month of September using the cash basis of accounting.

Reference no: EM132419839

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