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Business, 05.10.2021 01:00 asapmechee
Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers, $46,000, and paid cash for salaries, $25,000. At the beginning of the year, customers owe Rebel $1,000. By the end of the year, customers owe $7,200. At the beginning of the year, Rebel owes salaries of $6,200. At the end of the year, Rebel owes salaries of $3,600. Determine cash-basis net income and accrual-basis net income for the year.
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Rebel Technology maintains its records using cash-basis accounting. During the year, the company rec...
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