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Calculate the revenues for Riley Co for April

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Reference no: EM133188207

Question - Cash receipts versus revenues - During the month of April, Riley Co. had cash receipts from customers of $780,000. Expenses totaled $624,000, and accrual basis net income was $218,000. There were no gains or losses during the month.

Required -

a. Calculate the revenues for Riley Co. for April.

b. Explain why cash receipts from customers can be different from revenues.

Reference no: EM133188207

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