Andrew, a consultant, uses a cash basis to maintain his accounting records.
Gary received $300,000 in client fees in year 2.
Andrew had $50,000 in accounts receivable as of 12/31/Year 1.
At 12/31/Year 2, Andrew had $70,000 in accounts receivable and $6,000 in unearned income.
What would Andrew's second-year service revenue be if he used the accrual basis?
