Question: 7 & 8 Describe the difference between an account receivable and an account payable. A business had revenues of $679,000 and operating expenses of $588,000.

7 & 8

Describe the difference between an account receivable and an account payable. A business had revenues of $679,000 and operating expenses of $588,000. Did the business (a) incur a net loss or (b) realize net income

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