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X Company is a service company and prepares monthly financial statements. In March, it billed customers...

X Company is a service company and prepares monthly financial statements. In March, it billed customers $400,000 for services it provided; in April, it billed customers $362,000 for services it provided.

In April, the company received $283,000 from its March customers and $264,000 from its April customers.

Which of the following amounts will appear on X Company's April Income Statement and Statement of Cash Flows?

a.Income Statement, $762,000; Statement of Cash Flows, $547,000
b.both statements, $264,000
c.Income Statement, $362,000; Statement of Cash Flows, $547,000
d.Income Statement, $547,000; Statement of Cash Flows, $762,000
e.Income Statement, $547,000; Statement of Cash Flows, $362,000
f.both statements, $362,000
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