Acompany maintains its records using cash-basis accounting. during the year, the company received cash from customers, $32,000, and paid cash for salaries, $24,000. at the beginning of the year, customers owe the company $3,000. by the end of the year, customers owe $5,500. at the beginning of the year, the company owes salaries of $3,100. at the end of the year, the company owes salaries of $5,700. determine cash-basis net income and accrual-basis net income for the year.

Cash-basis net income: $8,000

Accrual-basis net income: $7,900

Explanation:

A company maintains its records using cash-basis accounting. During the year, the company received cash from customers, $32,000, and paid cash for salaries, $24,000. At the beginning of the year, customers owe the company $3,000. By the end of the year, customers owe $5,500. At the beginning of the year, the company owes salaries of $3,100. At the end of the year, the company owes salaries of $5,700. Therefore, the Cash-basis net income is $8,000  and the Accrual-basis net income is $7,900.

answer; i believe the correct answer is (treasury bills);

there was no passage listed but using the process of elimination i'd say it was d. the high economy would do the opposite. i don't see how low prices would affect it. high unemployment is possible but i feel d is the better answer.