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Business, 21.06.2020 01:57 jeremiahsingleton

Pat's Custom Tuxedo Shop maintains its records on the cash basis. During this past year Pat's collected $42,900 in tailoring fees, and paid $12,800 in expenses. Depreciation expense totaled $1900. Accounts receivable increased $1200, supplies increased $3600, and accrued liabilities increased $1650. Pat's accrual-basis net income was:

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Pat's Custom Tuxedo Shop maintains its records on the cash basis. During this past year Pat's collec...
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