The following is selected information from windsor, inc. for the fiscal year ending october 31, 2017.
cash received from customers $258000
revenue recognized 378400
cash paid for expenses 146200
cash paid for computers on november 1, 2016 that will be used for 3 years 41280
expenses incurred including any depreciation 185760
proceeds from a bank loan, part of which was used to pay for the computers 86000
based on the accrual basis of accounting, what is windsor's net income for the year ending october 31, 2017?

Net Income         192,640‬

Explanation:

For the accrual basis, we will consider the revenue ercognized and the expenses incurred regardless, of the payment date or collection date.

This means we will not focus on cash, we will focus in the accrued revenues and expenses for the period:

Revenues                                 378,400

Expenses with deprecation    (185,760)  

                     Net Income         192,640‬

The cash payment on the computer and the loan are not revenues or expenses, are considered for the cash flow statement.

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.