D is corrent. Cash-basis consulting revenue is the consulting fee revenue of $25,000, plus the cash received from unearned consulting fees of $2,000, less the consulting fees receivable of $3,500. Cash-basis consulting revenue is equal to $23,500 ($25,000 + $2,000 – $3,500).
A is incorrect. Cash-basis consulting revenue is the consulting fee revenue of $25,000, plus the cash received from unearned consulting fees of $2,000, less the consulting fees receivable of $3,500. Cash-basis consulting revenue is equal to $23,500 ($25,000 + $2,000 – $3,500).
B is incorrect. Cash-basis consulting revenue is the consulting fee revenue of $25,000, plus the cash received from unearned consulting fees of $2,000, less the consulting fees receivable of $3,500. Cash-basis consulting revenue is equal to $23,500 ($25,000 + $2,000 – $3,500).
B is incorrect. Cash-basis consulting revenue is the consulting fee revenue of $25,000, plus the cash received from unearned consulting fees of $2,000, less the consulting fees receivable of $3,500. Cash-basis consulting revenue is equal to $23,500 ($25,000 + $2,000 – $3,500).
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