During 2014, Donway Corporation received $20,000 in cash ($8,000 from sales that had been made on credit in 2013 and $12,000 from cash sales made in...
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<ol><li>During 2014, Donway Corporation received $20,000 in cash ($8,000 from sales that had been made

on credit in 2013 and $12,000 from cash sales made in 2014). In addition, the company made sales on credit in 2014 of $17,000. Based on accrual accounting procedures, what is the proper amount of revenue to be reported for 2014?</li><li>a) $37,000 b) $29,000 c) $28,000 d) $25,000</li></ol>

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