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Question 1: Just Like Fred Astaire, Inc. provides dance lessons to customers. On November 11th, Just Like Fred Astaire, Inc. provided $9,020 worth of services to customers, all of whom paid in cash. On November 16th, $3,137 in cash was collected from customers for services performed in October. On November 29th, an additional $5,914 worth of services were provided on account to customers, for which cash payment will not be collected until December. Using accrual-basis accounting, how much revenue should Just Like Fred Astaire, Inc. recognize in November?
Financial Statement Analysis and Preparation
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