REVENUE RECOGNITION AND MATCHING
Omega Transportation Inc., headquartered in Atlanta, Georgia, engaged in the following transactions:
* billed customers $2,387,000 for transportation services
* collected cash from customers in the amount of $1,364,000
* purchased fuel supplies for $1,262,000 cash
* used fuel supplies that cost $1,253,000
* employees earned salaries of $256,000
* paid employees $25,000 cash for salaries
REVENUE RECOGNITION AND MATCHING