Master Landscaping Services Case Study
In August, Master Landscaping Services signed a contract to perform $6000 of landscaping services for a customer. The work was started and completed in September. The customer paid Master $3000 in September and $3000 in October. Master purchased $1000 of materials for the project in August, paying $500 at that time and $500 in September.
What are the revenues, expenses, and net incomes for all 3 months on the cash and accrual basis accounting types? If amount is zero, enter it as such.