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Business, 23.10.2019 05:30 cam3227

Return to question item 1 item 1 in its first year of operations, roma company reports the following. earned revenues of $65,000 ($57,000 cash received from customers). incurred expenses of $35,500 ($27,250 cash paid toward them). prepaid $11,750 cash for costs that will not be expensed until next year. compute the company's first year net-income under both the cash basis and the accrual basis of accounting

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