Gregg Corp. reported revenue of $1,450,000 in its accrual basis income statement for the year ended June 30, 2015. Additional information was as follows:
Accounts receivable June 30, 2014 $400,000
Accounts receivable June 30, 2015 530,000
Uncollectible accounts written off during the fiscal year 15,000
Under the cash basis, Gregg should report revenue of
A) $1,035,000.
B) $1,050,000.
C) $1,305,000.
D) $1,335,000.
