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The WeBuild Construction Company sold $13 million of buildings in its first year of operations. The company received payments of $8.50 million for these buildings. The company's income statement would report Multiple Choice Accounts Receivable of $8.50 million Sales Revenue of $13 million Expenses of $4.50 million Sales Revenue of $8.50 million

Respuesta :

Answer:

The company's income statement would report Sales Revenue of $13 million

Explanation:

The journal entry for the transaction will be

==================================================================

         Particulars                                 Debit                     Credit

==================================================================

        Cash                                      $8.50 million          

        Accounts receivable            $4.50 million

   ( 13.5 million - 8.50 million)

        Sales revenue                                                         $13 million

==================================================================

hence,

The company's income statement would report Sales Revenue of $13 million

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