Greg Corp. reported revenue of $1,250,000 in its accrual-basis income statement for the year ended June 30, 2006. Additional information was as follows:
|
Accounts receivable June 30, 2005 |
$400,000 |
|
Accounts receivable June 30, 2006 |
530,000 |
|
Uncollectible accounts written off during the fiscal year |
15,000 |
Under the cash basis, Greg should report revenue of
- $ 835,000
- $ 850,000
- $1,105,000
- $1,135,000