financial statements
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Free InquirySussman Co. prepared cash-basis financial statements for the month ended January 31. A summary of Sussman’s January activities follows:
Credit sales of $5,600.
Collections of $1,900 relating to January credit sales.
Accrued salaries of $1,200.
By what amount will Sussman’s cash-basis income for the month ended January 31 increase as a result of restating these activities to the accrual basis of accounting?
A.$2,500
B.$3,700
C.$4,400
D.$4,900
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